| Year | 2015 |
|---|---|
| Author | Eng-Tuck Cheah, John Fry |
| Publisher | Economics Letters, Volume 130, Pages 32-36, ISSN 0165-1765, http://dx.doi.org/10.1016/j.econlet.2015.02.029. |
| Link | View Research Paper |
| Categories |
Bitcoin / Cryptocurrencies / Trading |
Amid its rapidly increasing usage and immense public interest the subject of Bitcoin has raised profound economic and societal issues. In this paper we undertake economic and econometric modelling of Bitcoin prices. As with many asset classes we show that Bitcoin exhibits speculative bubbles. Further, we find empirical evidence that the fundamental price of Bitcoin is zero.