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Research Affiliates Quant Warns of Bitcoin Market Manipulation

  • Former crypto miner urges caution as prices reach new heights
  • Questions about market manipulation have long dogged Bitcoin
Bitcoin Mining Comes to the Arctic Circle
Photographer: Andrey Rudakov/Bloomberg

In 2017, Alex Pickard had made so much money from Bitcoin that he quit his job in finance and moved to Washington state to mine digital coins full time. Less than a year later, the venture had failed and he was back at quant firm Research Affiliates.

Citing his own cautionary tale, the vice president of research has a warning for all the new crypto diehards: the market is likely being manipulated.