Bitcoin: A life in crises

In this study, we investigate the BTC price time-series (17 August 2010–27 June 2021) and show that the 2017 pricing episode is not unique. We describe at least ten new events, which occurred since 2010–2011 and span more than five orders of price magnitudes ($US 1 –$US 60k). We find that those even...

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Detalles Bibliográficos
Autores principales: Tarassov, Jevgeni, Houlié, Nicolas
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Public Library of Science 2022
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9524670/
https://www.ncbi.nlm.nih.gov/pubmed/36178889
http://dx.doi.org/10.1371/journal.pone.0274165
Descripción
Sumario:In this study, we investigate the BTC price time-series (17 August 2010–27 June 2021) and show that the 2017 pricing episode is not unique. We describe at least ten new events, which occurred since 2010–2011 and span more than five orders of price magnitudes ($US 1 –$US 60k). We find that those events have a similar duration of approx. 50–100 days. Although we are not able to predict times of a price peak, we however succeed to approximate the BTC price evolution using a function that is similar to a Fibonacci sequence. Finally, we complete a comparison with other types of financial instruments (equities, currencies, gold) which suggests that BTC may be classified as an illiquid asset.

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