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Publicatie

The economics of BitCoin price formation

Tijdschriftbijdrage - Tijdschriftartikel

This paper analyses the relationship between BitCoin price and supply-demand fundamentals of BitCoin, global macro-financial indicators and BitCoin attractiveness for investors. Using daily data for the period 2009-2014 and applying time-series analytical mechanisms, we find that BitCoin market fundamentals and BitCoin attractiveness for investors have a significant impact on BitCoin price. Our estimates do not support previous findings that the macro-financial developments are driving BitCoin price.
Tijdschrift: Applied Economics
ISSN: 0003-6846
Issue: 19
Volume: 48
Pagina's: 1799 - 1815
Jaar van publicatie:2016
BOF-keylabel:ja
IOF-keylabel:ja
BOF-publication weight:0.5
CSS-citation score:4
Auteurs:International
Authors from:Higher Education