Do investors herd in cryptocurrencies - and why?
【Author】 Kallinterakis, Vasileios; Wang, Ying
【Source】RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
【影响因子】6.143
【Abstract】We investigate herding and its possible determinants in the cryptocurrency market for the December 2013 - July 2018 period. Herding is significant (irrespective of Bitcoin's presence and trends over time) and strongly asymmetric (appearing stronger during up-markets, low volatility and high volume days), with smaller cryptocurrencies enhancing its magnitude. Our findings suggest that the cryptocurrency market entails strong destabilizing potential, the latter being of particular relevance to the authorities entrusted with its regulatory treatment.
【Keywords】Herding; Cryptocurrencies; Bitcoin
【发表时间】2019 DEC
【收录时间】2022-01-02
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