What Does Bitcoin Look Like?

【Author】 Bouoiyour, Jamal; Selmi, Refk

【Source】ANNALS OF ECONOMICS AND FINANCE

【影响因子】0.321

【Abstract】The paper seeks to address what Bitcoin looks like. Specifically, we attempt to identify the main determinants of Bitcoin price by means of rigorous evaluation through ARDL Bounds Testing method. Our findings reveal the extremely speculative behavior of Bitcoin, its partial usefulness in trade transactions without overlooking its dependence to the Shangai stock market and the hash rate. There is no sign of Bitcoin being a safe haven Taking a step further, we re-investigate the focal link by accounting for the Chinese trading bankruptcy. The results appear fairly robust. Bitcoin is still perceived as speculative foolery and thus far from being a long-term promise.

【Keywords】Bitcoin; Speculation; Trade transactions; Safe haven; Shangai stock market; Hash rate; ARDL Bounds Testing approach

【发表时间】2015 NOV

【收录时间】2022-01-02

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