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

【Author】 Cheah, Eng-Tuck; Fry, John

【Source】ECONOMICS LETTERS

【影响因子】1.469

【Abstract】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. (C) 2015 Elsevier B.V. All rights reserved.

【Keywords】Bitcoin; Cryptocurrencies; Bubbles; Econophysics

【发表时间】2015 MAY

【收录时间】2022-01-02

【文献类型】

【主题类别】

--