Economics at your fingertips  

What drives Bitcoin price?

Jamal Bouoiyour (), Refk Selmi (), Aviral Tiwari () and Olaolu Richard Olayeni ()
Additional contact information
Olaolu Richard Olayeni: Obafemi Awolowo University

Economics Bulletin, 2016, vol. 36, issue 2, 843-850

Abstract: The cryptocurrencies increased in popularity and have become nowadays well known to a wide audience. This article seeks to assess the issue of Bitcoin price formation from a novel perspective. We use a new technique called Empirical Mode Decomposition (EMD) with which a complicated data set can be disentangled into a small number of independent and concretely implicational intrinsic modes that admit well-behaved Hilbert transforms. Even though Bitcoin is usually labelled as a purely speculative asset, EMD views that it is extremely driven by long-term fundamentals (above one year)

Keywords: Bitcoin price; drivers; Empirical Mode Decomposition. (search for similar items in EconPapers)
JEL-codes: F3 E3 (search for similar items in EconPapers)
Date: 2016-05-18
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (30) Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
Working Paper: What drives Bitcoin price? (2016)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().

Page updated 2019-04-22
Handle: RePEc:ebl:ecbull:eb-16-00311