Bitcoin wash trading is getting worse!!!

By Ulu_Olcayto | Bitcoin Vs Altcoin | 8 Nov 2019


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CoinGecko's co-founder Bobby Ong has suggested that counterfeit transactions in the crypto money market are getting worse.

Wash trading is a method of manipulating markets and inflating volume. In this method, the sales order opened is again taken by the issuer of the order and a fake transaction volume is created and it is aimed to attract and attract other investors.

Ong said market manipulation continued unabated and the only way to have clean data on crypto currency volumes was through regulated exchanges.

“I would say the situation is really getting worse. Spot market trading volume is no longer used as a reliable source. There are many nonsensical stock exchanges that only do wash trading. If you really want to achieve a real 24-hour trading volume, the only way to do this is to arrange regulated exchanges in countries such as the USA and Japan - Coinbase, Gemini, etc. - look at the volumes.

We do not know how much of the trading volume of the stock exchanges remaining in the unregulated area was or was not done with wash trading. It's hard to tell whether it's real or not..

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