Subject: File No. SR-CboeBZX-2019-004
From: John Bird

Apr. 03, 2019


You want evidence of price manipulation? Well yesterday Bitcoins price jumped almost 20% in the space of 30 minutes by what I quote from a Reuters article: 

“There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC,” he said. “If you look at the volumes on each of those three exchanges – there were in-concert, synchronized, units of volume of around 7,000 BTC in an hour”. 


These exchanges were of significant size reputation: U.S.-based exchanges Coinbase and Kraken and Luxembourg’s Bitstamp.  

The price was manipulated from approx. $4000 to well over $5000 in a short duration before settling around $4,900 on most  exchanges at the time of writing.  

If you are asking the public if manipulation by a single entity is possible  to drive up Bitcoin prices then here is evidence fresh off the press.  

Such easy manipulation to drive up investor sentiment and take their money, and you want an opinion whether an ETF is a good idea?  

Well it is a resounding no, obviously!