比特币价格是孤立的还是协整的

Q4 Business, Management and Accounting

International Journal of Business and Globalisation Pub Date : 2023-01-01 DOI:10.1504/ijbg.2023.134385

Vishal Vyas, Kiran Mehta, Renuka Sharma

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引用次数: 0

摘要

根据谷歌趋势和谷歌2017年搜索次数最多的榜单，“比特币”一词排名第二。2010年7月18日，一个比特币的价格为0.09美元，到2018年6月，比特币价格升至7708.63美元。这种价格升值的原因可能是由于比特币供应短缺或可用性有限，交易成本低，缺乏竞争以及早期进入市场的好处。比特币市场已经显示出非均衡误差缓慢调整的迹象，这意味着它受到随机冲击的显著影响。本研究试图获得比特币价格序列与以美元计价的四种货币汇率关系的实证证据，即比特币价格以美元计价与欧元-美元、英镑-美元、美元-日元、美元-韩元汇率的关系。

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Are bitcoin prices isolated or co-integrated

As per the Google trends and Google's list of most-searched for 2017, the term bitcoin was at second place. One bitcoin was priced at 0.09 USD on 18th July 2010, which rose to a level of 7708.63 USD by June 2018. The reasons for such kind of price appreciation could have resulted because of short supply or limited availability of bitcoins, their low transaction costs, lack of competition and benefit of early entry in the market. The bitcoin markets have shown the sign of slow adjustment of disequilibrium error which means it is significantly affected by stochastic shocks. The current study has made an attempt to obtain empirical evidences of relationship between bitcoin price series and exchange rate of four currencies in terms of US dollar, i.e., relation between bitcoin price in terms of USD and exchange rate of EURO-USD, BRITISH POUND-USD, USD-JAPENSE YEN, and USD-KOREANWON.

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来源期刊

International Journal of Business and Globalisation Business, Management and Accounting-Business, Management and Accounting (all)

CiteScore

0.70

自引率

0.00%

发文量

期刊介绍： IJBG proposes and fosters discussion on various aspects of business and globalisation, including the physical environment and poverty. Topics covered include: - Internationalisation of SMEs - Cross-cultural business - Globalisation and poverty - Business ethics in the global environment - Emerging economies - Immigrant minorities in business - Indigenous enterprises and the global economy - International tourism - Eco-tourism - Sustainable development - Environmental degradation - The impact of oil and gas - Human mobility in a globalised world - Competition in a global economy - Localisation/glocalisation strategies within contemporary globalisation.