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dc.contributor.authorKjærland, Frode
dc.contributor.authorKhazal, Aras
dc.contributor.authorKrogstad, Erlend Aune
dc.contributor.authorNordstrøm, Frans Bertil Gyllenhammar
dc.contributor.authorOust, Are
dc.date.accessioned2019-02-05T21:22:43Z
dc.date.available2019-02-05T21:22:43Z
dc.date.created2018-10-15T13:32:44Z
dc.date.issued2018
dc.identifier.citationKjærland, F., Khazal, A., Krogstad, E. A., Nordstrøm, F. B. G. & Oust, A. (2018). An analysis of bitcoin’s price dynamics. Journal of Risk and Financial Management, 11(4): 63. doi:nb_NO
dc.identifier.issn1911-8074
dc.identifier.urihttp://hdl.handle.net/11250/2584021
dc.description.abstractThis paper aims to enhance the understanding of which factors affect the price development of Bitcoin in order for investors to make sound investment decisions. Previous literature has covered only a small extent of the highly volatile period during the last months of 2017 and the beginning of 2018. To examine the potential price drivers, we use the Autoregressive Distributed Lag and Generalized Autoregressive Conditional Heteroscedasticity approach. Our study identifies the technological factor Hashrate as irrelevant for modeling Bitcoin price dynamics. This irrelevance is due to the underlying code that makes the supply of Bitcoins deterministic, and it stands in contrast to previous literature that has included Hashrate as a crucial independent variable. Moreover, the empirical findings indicate that the price of Bitcoin is affected by returns on the S&P 500 and Google searches, showing consistency with results from previous literature. In contrast to previous literature, we find VIX, Oil, Gold and Bitcoin transaction volume to be insignificant.nb_NO
dc.language.isoengnb_NO
dc.publisherMDPI AGnb_NO
dc.rightsNavngivelse 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/deed.no*
dc.titleAn Analysis of Bitcoin’s Price Dynamicsnb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.description.versionpublishedVersionnb_NO
dc.rights.holder© 2018, The Author(s)nb_NO
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210nb_NO
dc.source.pagenumber18nb_NO
dc.source.volume11nb_NO
dc.source.journalJournal of Risk and Financial Managementnb_NO
dc.source.issue4nb_NO
dc.identifier.doi10.3390/jrfm11040063
dc.identifier.cristin1620426


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