The Inefficiency of Bitcoin
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Cites
Efficient capital markets: A review of theory and empirical work
Fama, E. F. (1970) · The Journal of Finance · doi:10.2307/2325486 · Cited by 13,635 · see citing works
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RETRACTED: Cryptocurrencies as a financial asset: A systematic analysis
Corbet, S., Lucey, B., Urquhart, A., & Yarovaya, L. (2019) · International Review of Financial Analysis · doi:10.1016/j.irfa.2018.09.003 · Cited by 1,172 · see citing works
Self-citationRetractedFertile LAND: Pricing non-fungible tokens
Dowling, M. (2022) · Finance Research Letters · doi:10.1016/j.frl.2021.102096 · Cited by 408 · see citing works
Informational efficiency of Bitcoin—an extension
Tiwari, A. K., Jana, R. K., Das, D., & Roubaud, D. (2018) · Economics Letters · doi:10.1016/j.econlet.2017.12.006 · Cited by 365 · see citing works
The role of bitcoin in well diversified portfolios: A comparative global study
Kajtazi, A., & Moro, A. (2019) · International Review of Financial Analysis · doi:10.1016/j.irfa.2018.10.003 · Cited by 271 · see citing works
Technical trading and cryptocurrencies
Hudson, R., & Urquhart, A. (2021) · Annals of Operations Research · doi:10.1007/s10479-019-03357-1 · Cited by 90 · see citing works
“…studying bubbles in cryptocurrency markets (Cheah and Fry 2015; Fry and Cheah 2016; Corbet et al. 2018), the market efficiency of Bitcoin markets (Urquhart 2016; Nadarajah and Chu 2017; Bariviera 2017; Tiwari et al. 2018), the hedging properties of Bitcoin (Brière et al. 2015; Dyhrberg 2016a, b;…”
BackgroundSelf-citationKarau, S. (2023) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2023.102880 · Cited by 70 · see citing works
Monetary policy shocks and Bitcoin prices
Ma, C., Tian, Y., Hsiao, S., & Deng, L. (2022) · Research in International Business and Finance · doi:10.1016/j.ribaf.2022.101711 · Cited by 34 · see citing works
Bubbles in Bitcoin and Ethereum: The role of halving in the formation of super cycles
M'bakob, G. B. (2024) · Sustainable Futures · doi:10.1016/j.sftr.2024.100178 · Cited by 20 · see citing works
Followness of Altcoins in the Dominance of Bitcoin: A Phase Analysis
Kulal, A. (2021) · Macro Management & Public Policies · doi:10.30564/mmpp.v3i3.3589 · Cited by 10 · see citing works
“In recent days the bitcoin showed supremacy in the cryptocurrency committee and showed that the acceptability and success of altcoins largely depend on the performance of Bitcoin ([12-14]).”
BackgroundTechnical Analysis and Cryptocurrencies
Hudson, R., & Urquhart, A. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3387950 · Cited by 7 · see citing works
Self-citationPeciulis, T., & Vasiliauskaite, A. (2024) · Economics and Culture · doi:10.2478/jec-2024-0006 · Cited by 3 · see citing works
Bitcoin Runs on a Clock: Why Every Price Indicator Dies and the Halving Clock Doesn't
Molnar, J. (2026) · SSRN Electronic Journal · doi:10.2139/ssrn.6977940
- Authors
- Urquhart, A.
- Affiliations
- University of Southampton (GB)
- Corresponding author
- Urquhart, Andrew
- ORCID
- Urquhart, Andrew
- Venue
- Economics Letters
- Publisher
- Elsevier BV
- Published
- 2016-11
- Volume
- 148
- Pages
- 80-82
- ISSN
- 0165-1765 (ISSN-L)
- OpenAlex
- W2523675164
- Cited by
- 1,338
- References
- 1
- Citations by year
- 2026: 151 · 2025: 118 · 2024: 112 · 2023: 150 · 2022: 149 · 2021: 158 · 2020: 166 · 2019: 176 · 2018: 125 · 2017: 30 · 2016: 3
- FWCI
- 168.20
- Type
- journal article
- Language
- en
- Open access
- green
- doi.org
- Locations
- Economics Letters (publishedVersion)
- SSRN Electronic Journal (publishedVersion)
- ePrints Soton (University of Southampton) (acceptedVersion)
- RePEc: Research Papers in Economics (submittedVersion, cc-by-nc-nd)
- University of Birmingham Research Portal (University of Birmingham) (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Risk and Volatility Modeling
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
- Keywords
- Bitcoin, cryptocurrency, market efficiency, asset pricing, return predictability, efficient market hypothesis, Bitcoin returns
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