The massive price bubbles of decentralized cryptocurrencies, such as Bitcoin, have created a puzzle for economists. How … pricing. In a controlled laboratory experiment, we observe that the formation of price bubbles can be causally attributed to … mining. Moreover, bubbles are more pronounced if the mining capacity is centralized to a small group of individuals. Analysis …

In this study, a mathematical model of proof-of-work cryptocurrency valuation is developed based on the concepts of … simultaneous equilibria in two mining games, the purchasing power parity in the system of equations of exchange and the network … process payments. The model lays the foundation for rigorous long-term proof-of-work cryptocurrency valuation superior to …

. This study uses VAR-OLS techniques to investigate the time-varying correlation between Bitcoin and three major European … robustness of our results, we also test the impact of government measures on Bitcoin and stock market indices and find that they … correlations between Bitcoin returns and the stock market, oil, and gold index returns, which have so far been unaddressed. …

This paper deals with cryptocurrency bubbles. First, it points out that a number of recent papers on cryptocurrency … presence of cryptocurrency bubbles or the fundamental value of cryptocurrencies is needless. Second, the paper conducts a short … bubbles are awed due to an insufficient consideration of the fundamental value of cryptocurrencies. As even fiat money is said …

This paper deals with cryptocurrency bubbles. First, it points out that a number of recent papers on cryptocurrency … presence of cryptocurrency bubbles or the fundamental value of cryptocurrencies is needless. Second, the paper conducts a short … bubbles are awed due to an insufficient consideration of the fundamental value of cryptocurrencies. As even fiat money is said …

The 2017 bubble on the cryptocurrency market recalls our memory in the dot-com bubble, during which hard … impact of investor sentiment on cryptocurrency returns is conditional on bubble regimes …

Cryptocurrencies provide the ideal and natural experimental setting to test the local martingale theory of bubbles …, because they have no cash flows. Using this theory, we test for the existence of price bubbles in eight cryptocurrencies from … January 1, 2019 to July 17, 2019. The cryptocurrencies are Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP …

This study investigates speculative bubbles in the cryptocurrency market and factors affecting bubbles during the COVID …-19 pandemic. Our results indicate that each cryptocurrency covered in the study presented bubbles. Moreover, we found … was evident among investors; however, this diminishes during bubbles, indicating that bubbles are not explained by herd …

social media and emerging trading applications on interactions among equity and cryptocurrency markets, and their potentially …

cryptocurrency market outcomes. We theoretically derive an equilibrium relationship between the cryptocurrency price, mining rewards … endogenous - we provide empirical evidence of cryptocurrency price and mining rewards indeed being intrinsically linked to … and mining costs, and blockchain security outcomes. Using daily crypto market data for 2014-2021 and employing the …