Bitwise report: bitcoin is a 'significantly more efficient market' despite 95% fake volume

Quick Take

  • Bitwise released another report on the problem of fake volume
  • Although 95% of the bitcoin volume is fake, Bitwise argues that the remaining 5% is a highly regulated and efficient market
  • Fake volumes do not obscure price discovery, as real investors only draw bitcoin prices from real exchanges, said Bitwise
Sure 95% of the bitcoin market is fake, but the 5% that isn’t is really, really efficient. That’s the thesis of a new report Bitwise put out last week showing the anomalies on fake exchanges and putting forth new evidence to suggest regulated bitcoin markets are more efficient and mature than popularly believed. The firm […]

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