The" secured " Fiat dollar cryptocurrency Tether was used to support the price of bitcoin during periods of recession in the market. Researchers at the University of Texas at Austin are confident in this.

http://coinpriceprediction.net/wp-content/uploads/2018/02/Tether.png

Published by John Griffin and Amin Samson the document States that the increase in the price of bitcoin is largely dependent on the cryptocurrency Tether throughout 2017. Thus, the "algorithms of blockchain data analysis" used by researchers helped them to come to the conclusion that the purchase of cryptocurrencies for the tokenized us dollar contributed to a significant increase in the price of bitcoin.

Thus, the researchers found a stable relationship between the increase in the supply of Tether (USDT) and the growth of bitcoin prices.

"A comparison of bitcoin and Tether blockchains allowed us to conclude that Bitfinex-related entities used the USDT to buy bitcoin during the periods of its price fall. This activity aimed at supporting the price is successful, as the price of bitcoin is growing during periods of such interventions," the study says.

At the same time, scientists note that for a significant impact on the price of bitcoin, a change in the tether offer is only 1%.

"Tether is created, moved to Bitfinex, and then slowly flowed to other cryptocurrency exchanges-mostly on Poloniex and Bittrex," Griffin and Shams note.

The researchers also emphasize that tether tokens are not usually redeemed by the Issuer:

"... and the only major market where the Tether can be exchanged for the US dollar is the Kraken. However, the proportion of such transactions is small."



One of the most critical critics of Tether is the anonymous blogger Bitfinex'ed, which in March 2018 revealed a link between the release of new tether coins and the rise in prices for bitcoin and Ethereum. Previously, the Bitfinex exchange, which is known to have close ties to Tether, threatened a lawsuit against the blogger.

We also recall that in may, Tether conducted an additional issue, releasing 250 million new usdt tokens.








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