Cryptocurrency network factors and gold

【Author】 Nakagawa, Kei; Sakemoto, Ryuta

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】Both cryptocurrencies and gold are scarce, expensive for extraction, and less affected by money supply. We focus on these similarities and investigate whether cryptocurrency network affects impact on expected return on gold. Our results show that the number of cryptocurrency wallet users is positively related to the expected return on gold. Moreover, we employed a machine-learning approach and considered the interactions among predictors. We reveal that network factors have a greater impact on gold than returns on Bitcoin and other macroeconomic and financial variables.

【Keywords】Gold; Precious metals; Network factors; Cryptocurrencies; Machine learning

【发表时间】2022 MAY

【收录时间】2022-07-10

【文献类型】实证性文章

【主题类别】

区块链治理-市场治理-数字货币