value, and use Bitcoin, Facebook as numerical examples of the proof. There is compelling evidence that suggests that the … growth and price of bitcoin and other cryptocurrencies are likely to proceed according to a relatively straightforward … mathematical model similar to the growth curves of Facebook and other networks. Using observed data for Bitcoin, we derive the …

, EURO, Japan, and the UK) and the leading cryptocurrency, the Bitcoin. Results of the static analysis show that the level …. Our static connectedness analysis shows that Bitcoin is mainly independent of shocks from the yield curve's level, slope …, and curvature, and from any main currency investigated. These findings hint that Bitcoin might provide hedging benefits …

This study shows that changes in bitcoin exchange reserves are negatively related to contemporaneous and future bitcoin … returns, consistent with the hypothesis that the transfer of bitcoin on exchanges implies increased price pressure and vice … versa. We further identify an asymmetry between positive and negative reserve changes on bitcoin returns and volatility …

all network participants. We calculate the economic impact of competing coins (“altcoins”) on Bitcoin's value and find …

investment strategies applied to Bitcoin. Our bubble model is defined as a geometric Brownian motion combined with separate crash …-free asset. Using our bubble model on Bitcoin from 8-Jul-2013 until 19-Dec-2017 would have generated a CAGR of 140% with a … maximum drawdown of 69% giving a Calmar Ratio of 2.03. It would have moved out of Bitcoin gradually since 25-Apr-2017 to be …

This paper investigates the relationship between the bitcoin price and the hashrate by disentangling the effects of the … energy efficiency of the bitcoin mining equipment, bitcoin halving, and of structural breaks on the price dynamics. For this … purpose, we propose a methodology based on exponential smoothing to model the dynamics of the Bitcoin network energy …

Bitcoin is traded in a number of exchanges, and there is a large and time-varying price dispersion among them. We …. Using weekly data over the past 3 years, we find that shocks to transaction fees and bitcoin price growth explain on average …

Bitcoin is an exciting new financial product that may be useful for inclusion in investment portfolios. This paper … investigates the implications of replacing gold in an investment portfolio with bitcoin (“digital gold”). Our approach is to use … portfolio with gold to a portfolio with bitcoin. These results are robust to the inclusion of trading costs. …

Known as an active global virtual money network, Bitcoin blockchain with millions of accounts has played an ever … digital money network and 2) if changes in the transaction record size impact the dynamic evolution of Bitcoin transactions … asymptotic properties. In the real data analysis on Bitcoin blockchain from Feb 2012 to December 2021, we found that in the …