leads to a perpetual bubble, in which more experienced, but less optimistic, investors keep selling overpriced assets to … success of such bubble schemes. This previous literature did not allow for persistent effects of experience on beliefs and …, the intuition behind the perpetual bubble involves the above-mentioned disagreement patterns, not belief formation itself. …

Bitcoin was conceptualized in response to perceived shortcomings in the monetary and financialsystem, not only related … and a weekly proxy VAR model, I study theimpact of monetary policy on Bitcoin. The paper shows that monetary shocks have … sizableeffects on Bitcoin prices, but that these differ in sign: a disinflationary monetary tightening bythe ECB lowers valuations …