Cryptocurrency

Shuai Chen
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Shuai Chen: Tsinghua University

Chapter 25 in Decoding the Market, 2025, pp 247-257 from Springer

Abstract: Abstract This chapter provides a comprehensive examination of cryptocurrencies as an emerging and transformative asset class in global finance. It begins by tracing the evolution of digital currencies—led by Bitcoin and Ethereum—from technological experimentation to institutional adoption, analyzing the foundational blockchain technology that underpins their decentralized nature. The discussion explores Bitcoin’s monetary structure, halving mechanism, and its debated role as a risk versus safe-haven asset, supported by historical market performance and investor behavior. The chapter also assesses Ethereum’s smart contract ecosystem and its role in decentralized finance (DeFi), contrasting it with Bitcoin’s positioning as a digital store of value. Through an analysis of bull and bear market cycles, volatility, and institutional participation, the chapter highlights both the investment potential and inherent vulnerabilities of digital assets within modern financial markets.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-981-95-3064-9_25

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DOI: 10.1007/978-981-95-3064-9_25

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