RATE Group | The Bots Manipulating Bitcoin’s Price
44260
post-template-default,single,single-post,postid-44260,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

The Bots Manipulating Bitcoin’s Price

02 Oct The Bots Manipulating Bitcoin’s Price

Posted at 13:20h in Bitcoin News by

[ad_1]

Investors know bitcoin’s violent mood swings well. What they often don’t know is that unscrupulous traders, wielding purpose-built software, can be behind them.

Manipulation in cryptocurrencies is a growing concern for regulators—and even for some proponents of the digital coins. The Securities and Exchange Commission cited that risk in August when rejecting several bitcoin-based exchange-traded funds. The office of New York Attorney General Barbara D. Underwood highlighted the issue last month in a report warning that crypto exchanges were vulnerable to manipulation.

“When any venue tolerates manipulative or abusive conduct, the integrity of the entire market is at risk,” the report said, citing automated trading programs, or “bots,” as a source of price manipulation. Trading programs exist in other markets, like stocks, and they can be used for both legitimate and manipulative strategies. Crypto traders can create bots themselves or buy them online.

…

[ad_2]

Source link

Tags:
, , ,