Exponentially decayed double power-law distribution of Bitcoin trade sizes

【Author】 Li, Mu-Yao; Cai, Qing; Gu, Gao-Feng; Zhou, Wei-Xing

【Source】PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS

【影响因子】3.778

【Abstract】Bitcoin is the most important cryptocurrency that leads the cryptocurrency market. The 776,629,356 Bitcoin trades from 3 January 2009 to 31 December 2017 are retrieved. It is found that the medium and large trade sizes comply with the exponentially decayed double power-law distribution. The tail exponent alpha(1) of the medium trade sizes fluctuates in 2009, increases during the period from 2011 to 2014, and then converges to a stable level at alpha(1) = 0.266 +/- 0.127. The tail exponent alpha(2) of the large trade sizes fluctuates more and we have alpha(2) = 1.752 +/- 1.688. (C) 2019 Elsevier B.V. All rights reserved.

【Keywords】Econophysics; Bitcoin; Cryptocurrency; Trade size; Probability distribution

【发表时间】2019 1-Dec

【收录时间】2022-01-02

【文献类型】

【主题类别】

--