Stages of a speculative bubble in the asset class Cryptocurrencies

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Stages of a speculative bubble in the asset class Cryptocurrencies

Daxhammer, Rolf J.; Facsar, Máté
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Zitierfähiger Link (URI): http://hdl.handle.net/10900/85539
http://nbn-resolving.de/urn:nbn:de:bsz:21-dspace-855394
http://dx.doi.org/10.15496/publikation-26929
Dokumentart: Wissenschaftlicher Artikel
Erscheinungsdatum: 2019-01-09
Originalveröffentlichung: Reutlinger Diskussionsbeiträge zu Finanz- & Rechnungswesen ; 2018,1
Sprache: Englisch
Fakultät: 9 Sonstige / Externe
Fachbereich: Sonstige/Externe
DDC-Klassifikation: 330 - Wirtschaft
Schlagworte: Finanzwirtschaft , Währung , Spekulation
Freie Schlagwörter:
Bitcoin
Cryptocurrencies
Speculative Bubbles
Behavioral Finance
Lizenz: http://tobias-lib.uni-tuebingen.de/doku/lic_mit_pod.php?la=de http://tobias-lib.uni-tuebingen.de/doku/lic_mit_pod.php?la=en
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Abstract:

At the beginning of 2017 the price of one Bitcoin, one of the most popular Cryptocurrencies, was at barely 1.000 USD. By mid-December 2017 the price not only surged 20x to an all-time high (ATH) but the number of other Cryptocurrencies offered to the public increased to more than 1.500 raising 6.5 billion USD via initial coin offerings alone in 2017. One year after the All-Time-Highs, the Bitcoin price not only tumbled about 80 percent from its highs but it also fell below the estimated break-even price needed to make the mining process aka validation of Cryptocurrency transactions profitable. The following paper will follow Cryptocurrencies in their stages of a typical speculative bubble.

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