SAN FRANCISCO — A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets.
It looked like a pump and dump. Half of all bitcoin is owned by 100 people. They are mostly anonymous. They can pump and dump and make a fortune and no one would be able to trace them.