This paper deals with cryptocurrency bubbles. First, it points out that a number of recent papers on cryptocurrency … bubbles are awed due to an insufficient consideration of the fundamental value of cryptocurrencies. As even fiat money is said … to exhibit features of bubbles, the same applies to cryptocurrencies. Thus, any empirical investigation into either the …

The 2017 bubble on the cryptocurrency market recalls our memory in the dot-com bubble, during which hard …, conditional on bubble regimes, on cryptocurrencies aggregate return prediction. Constructing a crypto-specific lexicon and using a … local-momentum autoregression model, we find that the sentiment effect is prolonged and sustained during the bubble while it …

This paper develops a microeconomic model of bitcoin production to analyze the economic effects of the Bitcoin protocol …. I view the bitcoin as a tradable commodity that is produced by miners and whose supply is managed by the protocol. The … findings show that bitcoin's volatile price path and inefficiency are related, and that both are a consequence of the protocol …

In this study, I analyze Bitcoin transaction data and build an economic model on Bitcoin traders incentives to … decompose the Bitcoin price into a utility-driven component, a speculative component, and a friction component. The model I … headline news to see which how information or rumor affects the different components of the Bitcoin price. The preliminary …

The cryptocurrency Bitcoin has been prominently featured in the news recently. Its ascension in value has been nothing … short of extraordinary. This article briefly explains what Bitcoin is and how it works. The more challenging question is … what Bitcoin — this cryptographic breakthrough — really is: currency, like the U.S. dollar, an asset, more like gold, or …

enter the crytpocurrency market, raising concerns that it could be taking advantage of a potential cryptocurrency bubble for … announcement, with an increased correlation between the price of Kodak shares and Bitcoin …

The recent evolution of cryptocurrencies has been characterized by bubble-like behavior and extreme volatility. While … it is difficult to assess an intrinsic value to a specific cryptocurrency, one can employ recently proposed bubble tests …-run component to capture volatility clustering. The wild bootstrap is shown to correctly adjust the size properties of the bubble …

to the study of Bitcoin and Ether, two of the most famous cryptocurrencies. Our bubble detection methodology combines the … and BSADF*). We find that, during the sample period 1st December 2016-16th January 2018, Bitcoin shows strong bubble … which is mainly driven by investor sentiment, becoming a potential source of financial bubbles and instabilities. In this …