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What Does Bitcoin Look Like?

Author

Listed:
  • Jamal Bouoiyour

    (CATT - Centre d'Analyse Théorique et de Traitement des données économiques - UPPA - Université de Pau et des Pays de l'Adour)

  • Refk Selmi

    (CATT - Centre d'Analyse Théorique et de Traitement des données économiques - UPPA - Université de Pau et des Pays de l'Adour)

Abstract

The paper seeks to address what Bitcoin looks like. Specifically, we attempt to identify the main determinants of Bitcoin price by means of rigorous evaluation through ARDL Bounds Testing method. Our findings reveal the extremely speculative behavior of Bitcoin, its partial usefulness in trade trans- actions without overlooking its dependence to the Shangai stock market and the hash rate. There is no sign of Bitcoin being a safe haven. Taking a step further, we re-investigate the focal link by accounting for the Chinese trad- ing bankruptcy. The results appear fairly robust. Bitcoin is still perceived as speculative foolery and thus far from being a long-term promise.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Jamal Bouoiyour & Refk Selmi, 2015. "What Does Bitcoin Look Like?," Post-Print hal-01879683, HAL.
    • Handle: RePEc:hal:journl:hal-01879683
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    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • F39 - International Economics - - International Finance - - - Other
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance

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