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5 Reasons Cryptocurrency Prices Are Plunging Again

SAN FRANCISCO — The news on Wall Street this week has been bleak: sharp declines, fears of a bear market and high-flying technology stocks that suddenly took a tumble.Traditional stock investors may be taking a beating, but they should be glad they didn’t put their money in cryptocurrencies. As of Wednesday, the price of a Bitcoin had fallen about 25 percent in a week and was down more than 75 percent from its peak in December.Other digital tokens have fallen even more sharply in value.The latest declines are occurring almost a year after cryptocurrency markets, fueled by a rush of new, wealthy investors, went into overdrive. There…

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Bitcoin’s Price Was Artificially Inflated Last Year, Researchers Say

SAN FRANCISCO — A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets.The paper by John Griffin, a finance professor at the University of Texas, and Amin Shams, a graduate student, is likely to stoke a debate about how much of Bitcoin’s skyrocketing gain last year was caused by the covert actions of a few big players, rather than real demand from investors.Many industry players expressed concern at the time that…

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