While the price of Bitcoin has rallied quite a bit over the past month (up 36 percent to $5,243.72 as of April 8, noon EST), another recent headline is much less jubilant. According to a new study, almost 95 percent of all Bitcoin trades are actually fraudulent.
In their study, which looked at trading data across the top 81 exchanges (by volume) over four days in March, Bitwise Asset Management concluded that of the $6 billion in average daily Bitcoin trading they observed, only $273 million of this is real.