Speculative bubbles in Bitcoin markets? An empirical investigation into the fundamental value of Bitcoin

Description

Yes / Amid its rapidly increasing usage and immense public interest the subject of Bitcoin has raised profound economic and societal issues. In this paper we undertake economic and econometric modelling of Bitcoin prices. As with many asset classes we show that Bitcoin exhibits speculative bubbles. Further, we find empirical evidence that the fundamental price of Bitcoin is zero.

Links & Downloads

1. Cheah E-T and Fry J (2015) Speculative bubbles in Bitcoin markets? An empirical investigation into the fundamental value of Bitcoin. Economics Letters. 130: 32-36.
2. http://hdl.handle.net/10454/18101
3. https://doi.org/10.1016/j.econlet.2015.02.029

Tags

Bitcoin

Cryptocurrencies

Bubbles

Econophysics

Additional Fields

Identifer	oai:union.ndltd.org:BRADFORD/oai:bradscholars.brad.ac.uk:10454/18101
Date	05 October 2020
Creators	Cheah, E-T., Fry, John
Source Sets	Bradford Scholars
Language	English
Detected Language	English
Type	Article, Accepted manuscript
Rights	© 2015 Elsevier B.V. All rights reserved. Reproduced in accordance with the publisher's self-archiving policy. This manuscript version is made available under the CC-BY-NC-ND 4.0 license.