Bitcoins as an investment or speculative vehicle? A first look

2014639 citationsJournal Article

Authors

Abstract

We use Bitcoin and S&P 500 Index daily return data to examine relative volatility using detrended ratios. We then model Bitcoin market returns with selected economic variables to study the drivers of Bitcoin market returns. We report strong evidence to suggest that Bitcoin volatility is internally (buyer and seller) driven leading to the conclusion that the Bitcoin market is highly speculative at present.

Topics & Keywords

Blockchain Technology Applications and Security Privacy-Preserving Technologies in Data Financial Markets and Investment Strategies

UN Sustainable Development Goals

Industry, innovation and infrastructure

Publication Details

Published in: Applied Economics Letters

Volume 22, Issue 1, pp. 30-34

DOI: 10.1080/13504851.2014.916379

Field-Weighted Citation Impact: 25.44