Purpose: The purpose of this article is to provide some insights on the true nature of bitcoin and to study empirically its performance by using robust models, widely used in the academic literature. Previous studies assess performance with simple measures such as the Sharpe ratio. Such...

Since cryptocurrencies were first created, the related markets have been known for their fluctuations, whether in terms of high volatility or illiquidity. Partially for those reasons, public authorities and regulators around the world have frequently attempted to regulate those markets. We aim...

Similarly, to private corporations, the activity of cryptocurrencies has externalities that affect stakeholders. While environmental concerns of the mining protocol and governance issues related to market regulation have been heavily expressed, social dimensions are also crucial for users and...

The high performance obtained by cryptocurrencies is due to their high returns as well as their high volatility. This article aims to analyze the speculative bubble aspect of the cryptocurrency market.A bubble appears when the value deviates from its fundamental value due to low arbitrage (e.g.,...