What drives Bitcoin price?

Jamal Bouoiyour (), Refk Selmi, Aviral Tiwari and Olaolu Olayeni

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: E3 F3 (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 (85)

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Working Paper: What drives Bitcoin price? (2016)
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