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The economics of BitCoin price formation

Tijdschriftbijdrage - Tijdschriftartikel

This paper analyses the relationship between BitCoin price and supply-demandfundamentals of BitCoin, global macro-financial indicators and BitCoinattractiveness for investors. Using daily data for the period 2009-2014 andapplying time-series analytical mechanisms, we find that BitCoin marketfundamentals and BitCoin attractiveness for investors have a significant impacton BitCoin price. Our estimates do not support previous findings that themacro-financial developments are driving BitCoin price.
Tijdschrift: Applied Economics
ISSN: 0003-6846
Issue: 19
Volume: 48
Pagina's: 1799 - 1815
Aantal pagina's: 17
Jaar van publicatie:2016
BOF-publication weight:0.5
CSS-citation score:4
Authors from:Higher Education