RATE Group | Tether’s Impact on Bitcoin Price Not ‘Statistically Significant,’ Study Finds
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Tether’s Impact on Bitcoin Price Not ‘Statistically Significant,’ Study Finds

22 Sep Tether’s Impact on Bitcoin Price Not ‘Statistically Significant,’ Study Finds

Posted at 03:15h in Bitcoin News by

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The issuance of tether (USDT), the controversial cryptocurrency tied to the U.S. dollar’s value, has had no meaningful impact on the price of bitcoin, an academic study has found.

The findings by Dr. Wang Chun Wei, a lecturer at the business school of Australia’s University of Queensland, contradict widespread and long-running speculation that Tether, the company behind the stable cryptocurrency, has been issuing USDT to pump up the price of bitcoin.

Wei’s findings have been accepted for the October 2018 issue of Economics Letters. (The paper was originally published online in May.)

In the paper, “The Impact of Tether Grants on Bitcoin,” he writes:

“Our findings show that tether grants were potentially timed to follow bitcoin downturns and subsequent bitcoin/tether trading volumes increased … However, the impact of tether grants on bitcoin returns were not statistically significant, and therefore tether issuances cannot be an effective tool for moving bitcoin prices.”

Tether…

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