95% Of Volume Could Be Wash Trading As Bitcoin Price Surges
April 4, 2019 – Forbes
A huge number of trades are already undertaken by algorithms. According to Crypto Fund Research, 17 algorithmic funds have entered the market in the last eight months and account for 40% of new cryptocurrency hedge funds.
Algorithmic trading is likely behind the latest BTC price surge back towards $5,000. Apart from a convincing and widely-shared April Fool’s story, there was no long-awaited news on ETFs that underpinned this sudden march of the bulls. A key technical indicator was surpassed at around $4,200 and it sparked a buying frenzy driven by bots.