US Authorities Are Investigating Bitcoin Exchange
US Authorities are Investigating influence Bitcoin Exchange. The US judiciary is investigating whether traders have deliberately manipulated the price of bitcoin and other digital currencies.
The manipulation of the prices would have happened by, among other things, turning off false orders to move by others to buy, say sources around the investigation against Bloomberg news agency.
When the market moves in the desirable direction, false orders need to withdraw as soon as possible.
Traders would also trade with themselves to create the impression that there is a lot of movement on the market.
The research means that the American government will keep a closer eye on the markets of digital currencies which, according to critics, are a wild-west landscape.
The prosecutors work together with the financial watchdog Commodity Futures Trading Commission.
In several countries, digital coins are already under a magnifying glass because authorities are worried about fraud.
For example, China banned exchanges where the cryptocurrencies traded and Japan and the Philippines decided to regulate stock exchanges.
Partly due to all the observation of governments, the price of the bitcoin has fallen sharply after a peak of 20,000 dollars in December.
In recent weeks, the price altered between $ 8,000 and $ 10,000, but now the value of the digital currency continues to fall. In past days, a bitcoin has dropped to just above $ 7,400.