BUBBLES IN BITCOIN MARKET: AN EMPIRICAL INVESTIGATION
BUBBLES IN BITCOIN MARKET: AN EMPIRICAL INVESTIGATION
Author(s): Hazgui SamahSubject(s): Financial Markets
Published by: Universitatea SPIRU HARET - Faculty of Accounting and Financial Management
Keywords: Bitcoin; Explosive bubbles; GSADF: Generalized Sup ADF;
Summary/Abstract: The existence of bubbles has become a topical issue in finance and economics, particularly after the Subprimes crisis. In this study, we apply the test developed and presented by Phillips and al (2015, PSY) to investigate whether there exist multiple bubbles in the Bitcoin stock market, using monthly data. Our empirical results indicate that there did exist multiple bubbles in the bitcoin stock market. Further, the dates of the bubbles also corresponded to specific events in the stock market. Our results may have important implications for speculative investors, policymakers and law enforcement agencies alike.
Journal: Journal of Academic Research in Economics (JARE)
- Issue Year: 11/2019
- Issue No: 3
- Page Range: 532-542
- Page Count: 11
- Language: English
- Content File-PDF
