What Does Crypto-currency Look Like? Gaining Insight into Bitcoin Phenomenon

Jamal Bouoiyour () and Refk Selmi

MPRA Paper from University Library of Munich, Germany

Abstract: The present paper seeks to effectively address the following question: What Bitcoin looks like? To do so, we regress Bitcoin price on a number of variables (Bitcoin fundamentals recorded in the literature) by applying an ARDL Bounds Testing approach for daily data covering the period from December 2010 to June 2014. Our findings highlight the speculative nature of Bitcoin. We also provide insightful evidence that Bitcoin may be used for economic reasons but there is any sign of being a safe haven. By considering the Chinese trading bankruptcy and the closing of Road Silk by FBI, the contribution of users’ interest stills sharply dominant, indicating the robustness of our results.

Keywords: Bitcoin; ARDL Bounds Testing method; innovative accounting approach; VEC Granger causality test. (search for similar items in EconPapers)
JEL-codes: E44 G15 (search for similar items in EconPapers)
Date: 2014-08-13
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:57907

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