Autore
Waters, George A.

Titolo
Bubbles and rationality in bitcoin
Periodico
Economic notes
Anno: 2019 - Volume: 48 - Fascicolo: 2 - Pagina iniziale: 12133 - Pagina finale: 12133

Periodically collapsing rational bubbles model speculative demand in asset markets. The price and quantity of bitcoin are integrated of different orders, which is evidence of a bubble. Cointegration tests that allow for the potential presence of such bubbles with alternative proxies for fundamentals cannot reject a bubble in bitcoin.



SICI: 0391-5026(2019)48:2<12133:BARIB>2.0.ZU;2-H

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