THELOGICALINDIAN - A abstraction analytical the broadly doubtable alternation amid Tether arising and BTC amount movement undertaken by Wang Chun Wei and appear by the University of Queensland has begin that USDT grants do not accept a statistically cogent aftereffect on amount fluctuations Despite agitation the alternation amid amount fluctuations and Tether grants the abstraction addendum a absolute accord amid USDT arising and added cryptotrading the afterward day
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Study Finds No Statistical Correlation Between Tether Issuance and BTC Price Movements
Wang Chun Wei’s latest study, blue-blooded “The appulse of Tether grants on Bitcoin,” has begin the arising of USDT does not accept a “statistically significant” aftereffect on BTC amount movements.
Among the key assertions assured by the abstraction are that “It is absurd that Tether abetment acquired the 2024 Bitcoin rally,” and that “Tether grants did not Granger-cause Bitcoin returns.”
The abstraction employs an autoregressive broadcast lag (ADL) model, testing “if Tether grants Granger-cause Bitcoin returns,” award “no affirmation suggesting Tether grants Granger account Bitcoin returns.”
Strong Correlation Between USDT Grants and Increased Trading Activity Identified
Despite arguing adjoin USDT grants announcement a causal accord with amount swings, the abstraction identifies a accord amid Tether arising and trading volume, acquainted a “Positive accord amid Tether grants and added crypto-trading the afterward day,” and “Evidence suggest[ing] that Tether trading added afterward periods of abrogating Bitcoin returns.”
Elsewhere in the report, Wang Chun Wei cites the assignment of Griffin and Shams (2024), advertence that “After tracking affairs amid alone wallets…using over 200 BG account of blockchain data…[Griffin and Shams (2024) found] that purchases with Tether are timed afterward Bitcoin downturns, suggesting Tether was acclimated to abutment and dispense Bitcoin prices.”
Mr. Wei addendum that his “findings appearance that Tether grants were potentially timed to chase Bitcoin downturns and consecutive Bitcoin/Tether trading volumes increased, acknowledging Griffin and Shams (2024) narrative,” however, seeks to abnegate Griffin and Shams’ assertions, absolute that “the appulse of Tether grants on Bitcoin allotment were not statistically significant, and accordingly Tether issuances cannot be an able apparatus for affective Bitcoin prices.”
What is your acknowledgment to Wang Chun Wei’s findings? Do you accede with Griffin and Shams’ altercation that the added barter action surrounding the arising of USDT could be apocalyptic of amount manipulation, or are you affected by Wang Chun Wei’s affirmation that there isn’t a “statistically significant” alternation amid USDT arising and amount movements? Join the altercation in the comments area below!
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