Price discovery of cryptocurrencies: Bitcoin and beyond
Alexander Brauneis and
Roland Mestel ()
Economics Letters, 2018, vol. 165, issue C, 58-61
Academic research on cryptocurrencies is almost exclusively directed towards Bitcoin. We extend existing literature by performing various tests on efficiency of several cryptocurrencies and additionally link efficiency to measures of liquidity. Cryptocurrencies become less predictable / inefficient as liquidity increases.
Keywords: Cryptocurrencies; (in-)efficiency; Price discovery; Liquidity (search for similar items in EconPapers)
JEL-codes: G12 G14 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:165:y:2018:i:c:p:58-61
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