The DOI matches its Crossref record; 9 of the 9 references it cites were found in a registry or an index.
The Economic Effect of Bitcoin Halving Events on the U.S. Capital Market
Open accessAbstract
Bitcoin is a digital asset that was first mined in January 2009 after the global financial crisis of 2007–2008. Over a decade later, there is still no consensus across different market regulations on the classification, use cases, policies, and economic implications of bitcoin. However, there is an increasing demand for digital currency, as an alternative to fiat currency which would spur financial innovation and inclusion. This study reviews regulations on digital assets across countries. It further discusses some use cases for bitcoin to reduce financial risk and facilitate cross border transactions. The study also discusses challenges related to bitcoin such as: cryptocurrencies substitution, cross border financing, cyber risk and security, and benefits in terms of the effect of coronavirus on the speed of capital market innovation and hence bitcoin usage. The study concludes by examining the economic effect of bitcoin halving events on the U.S. capital market to better understand the influence of bitcoin on financial markets and key drivers of its intrinsic value. The empirical evidence from this study suggests that bitcoin halving events are associated with significant negative stock market reaction, signaling a trading tradeoff between cryptocurrencies and U.S. stock markets.
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“Bitcoin's halving mechanism, a feature of its deflationary design, enforces programmed scarcity by halving the mining reward, initially set at 50 BTC per block every 210,000 blocks (or approximately every four years), culminating in a finite supply of 21 million coins (Courtois et al., 2014).”
From Estimating the Impact of the Bitcoin Halving on Its Price Using Synthetic Control (2025) · cites this paper as El Mahdy, 2021
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Cites
Is Bitcoin a Real Currency? An economic appraisal
Yermack, D. (2013) · National Bureau of Economic Research · doi:10.3386/w19747 · Cited by 462
Flash vaporization during earthquakes evidenced by gold deposits
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A New Asset Type: Digital Assets
Toygar, A., Rohm, C., & Zhu, J. (2013) · Journal of international technology and information management · doi:10.58729/1941-6679.1024 · Cited by 54
Capital Flight and Bitcoin Regulation
Ju, L., Lu, T., & Tu, Z. (2015) · International Review of Finance · doi:10.1111/irfi.12072 · Cited by 37
Does Governance Have a Role in Pricing? Cross-Country Evidence from Bitcoin MarketsPreprint
Viglione, R. (2015) · SSRN Electronic Journal · doi:10.2139/ssrn.2666243 · Cited by 31
Anomaly detection in Bitcoin market via price return analysis
Shi, F., Sun, X., Gao, J., Xu, L., Shen, H., & Cheng, X. (2019) · PLoS ONE · doi:10.1371/journal.pone.0218341 · Cited by 21
Global Bitcoin Markets and Local Regulations:
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Digital and crypto-assets: Tracking global adoption rates and impacts on securities services
Harwood-Jones, M. (2019) · Journal of securities operations & custody · doi:10.69554/rzil3872 · Cited by 4
Berman, K. J., Hayes, M. J., Kaplan, M. E., Lim, B., Murphy, G. E., Do, Y., & Steinberg, J. R. (2019) · Journal of Investment Compliance · doi:10.1108/joic-10-2019-0054 · Cited by 1
Research works printed but not linked: 1
- Murray D., and Petrie N. A Mix of Clarity and Confusion: Crypto Asset Law and Regulation in the UK. 2021; The National Law Review XI, 35. Available at: https://www.natlawreview.com/article/mix-clarity-and-confusion-crypto-asset-law-and-regulation-uk
Cited by
Alonso, S. L. N., Jorge-Vázquez, J., Fernández, M. Á. E., & Forradellas, R. F. R. (2021) · Energies · doi:10.3390/en14144254 · Cited by 98
The Impact of Bitcoin Halving Day on Stock Market in Indonesia
Ramadhani, M. H. Z. K. (2022) · Journal of International Conference Proceedings · doi:10.32535/jicp.v5i3.1800 · Cited by 24
Fabus, J., Kremenova, I., Stalmasekova, N., & Kvasnicova-Galovicova, T. (2024) · Journal of Risk and Financial Management · doi:10.3390/jrfm17060229 · Cited by 14
The Effect of Positive and Negative Events on Cryptocurrency Prices
Öget, E. (2022) · Ekonomi Politika ve Finans Arastirmalari Dergisi · doi:10.30784/epfad.1011204 · Cited by 12
Zięba, D. (2023) · International Review of Economics & Finance · doi:10.1016/j.iref.2023.10.036 · Cited by 5
Metadata
- Authors
- El Mahdy, D.
- Venue
- Accounting and Finance Innovations
- Publisher
- IntechOpen
- Published
- 2021-12-22
- OpenAlex
- W3143587234
- Cited by
- 13
- References
- 9
- Citations by year
- 2026: 1 · 2025: 2 · 2024: 2 · 2023: 2 · 2022: 4 · 2021: 2
- FWCI
- 15.74
- Type
- book chapter
- Language
- en
- Open access
- hybrid
- doi.org
- Locations
- IntechOpen eBooks (publishedVersion, cc-by)
- IntechOpen (submittedVersion, cc-by)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Financial Markets and Investment Strategies
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Market Dynamics and Volatility
- Keywords
- Bitcoin, Bitcoin halving, cryptocurrency, stock market reaction, legal regulation of digital assets, US capital markets, financial innovation, cross-border transactions, financial risk
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Data sources
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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