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Bitcoin: A life in crises

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  • Jevgeni Tarassov
  • Nicolas Houli'e

Abstract

In this study, we investigate the BTC price time-series (17 August 2010-27 June 2021) and show that the 2017 pricing episode is not unique. We describe at least ten new events, which occurred since 2010-2011 and span more than five orders of price magnitudes ($US 1-$US 60k). We find that those events have a similar duration of approx. 50-100 days. Although we are not able to predict times of a price peak, we however succeed to approximate the BTC price evolution using a function that is similar to a Fibonacci sequence. Finally, we complete a comparison with other types of financial instruments (equities, currencies, gold) which suggests that BTC may be classified as an illiquid asset.

Suggested Citation

  • Jevgeni Tarassov & Nicolas Houli'e, 2023. "Bitcoin: A life in crises," Papers 2304.09939, arXiv.org.
    • Handle: RePEc:arx:papers:2304.09939
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    References listed on IDEAS

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