Trading Bots Used To Manipulate Cryptocurrency Prices – Wall Street Journal | Smartereum

Price manipulations have been a major concern in cryptocurrency markets and have adversely affected the growth of the sector as well as regulatory acceptance of cryptos.

The Wall Street Journal in an article on Tuesday, October 2, echoed this concern claiming that specialized automated robots are responsible for bitcoin price manipulations. The media outlet sampled the opinions of notable players in the cryptocurrency exchanges.

One of the participants, Andy Bromberg who is the co-founder of CoinList affirmed that the bots are rampant in crypto marketplaces.

Disadvantages of Crypto Price Manipulations
Cryptocurrency enthusiasts are divided over crypto price manipulations. On one side of the divide is Kjetil Eilersten, a crypto trader who developed a so-called “cryptocurrency market manipulation tool” for small traders. He told WSJ that he does not support the regulation cryptocurrency markets, rather suggested that every trader big, or small should be allowed to manipulate the market, hence his tool. According to him, if everyone manipulates, no one manipulates.

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Trading Bots Used To Manipulate Cryptocurrency Prices – Wall Street Journal | Cryptocurrency Trading News | Smartereum.