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Article overview
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Chance or Chaos? Fractal geometry aimed to inspect the nature of Bitcoin | | Esther Cabezas-Rivas
; Felipe Sánchez-Coll
; Isaac Tormo Xaixo
; | | Date: |
1 Sep 2023 | | Abstract: | The aim of this paper is to analyse the Bitcoin in order to shed some light
on its nature and behaviour. We select 9 cryptocurrencies that account for
almost 75\% of total market capitalisation and compare their evolution with
that of a wide variety of traditional assets: commodities with spot and futures
contracts, treasury bonds, stock indices, growth and value stocks. Fractal
geometry will be applied to carry out a careful statistical analysis of the
performance of the Bitcoin returns. As a main conclusion, we have detected a
high degree of persistence in its prices, which decreases the efficiency but
increases its predictability. Moreover, we observe that the underlying
technology influences price dynamics, with fully decentralised cryptocurrencies
being the only ones to exhibit self-similarity features at any time scale. | | Source: | arXiv, 2309.00390 | | Services: | Forum | Review | PDF | Favorites | |
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