US scientists: at the price of Bitcoin, large traders hardly affect
Scientists from the American Institute of Economic Research (AIER) began collaborating with colleagues from the University of Missouri to find together the answer to the question – whether several bitter traders manage the price of bitcoin.
A short conclusion of the study was published on the AIER website, the head of this scientific project is the senior researcher Max Gulker. Researchers conclude that at least a few large traders and influence the market, but not to the extent that they expected when they started the study.
Scientists emphasize that to date, the bitcoin market, although greatly increased in size, is still small. The study used data for two years of price activity (2016 and 2017). Scientists emphasize that they failed to establish a direct link between events that should potentially affect the price behavior, and the price change itself. However, such events as the expected hard forks or scaling, or approaching closing futures contracts have the most significant effect on the price.
To the conclusions of the described study, scientists also include the fact that it is necessary to carefully select news about bitcoin and the sources of this news.