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An empirical study of how Bitcoin related incidents impact its price volatility

Pryzmont, Piotr (2016) An empirical study of how Bitcoin related incidents impact its price volatility. Masters thesis, Dublin, National College of Ireland.

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Abstract

Bitcoin, a fascinating phenomenon of crypto-technology, has emerged in financial markets as a potential alternative to standard fiat currencies. It represents unique sociotechnical
ecosystem working outside of any traditional markets, and its economy is still not well understood. Dynamics of Bitcoin price proves to be quite a controversial subject, but there is a strong indication that social factors mainly influence its economy.

Technical flaws and lack of any central authority issuing and controlling this digital currency make it vulnerable to abuse. It has been associated with controversy due to frequent incidents, namely hacks, theft, scam, and illicit use, which affected its ecosystem ever since it gained popularity.

This thesis adds to the discussion about social aspects of Bitcoin economy by analysing the changes in its price volatility in the context of incidents occurring in its
ecosystem. As empirically proven, those negative events have no impact on the fluctuations of Bitcoin price.

Item Type: Thesis (Masters)
Subjects: H Social Sciences > HG Finance > Money > Currency
H Social Sciences > HG Finance > Financial Management
Divisions: School of Business > Master of Business Administration
Depositing User: CAOIMHE NI MHAICIN
Date Deposited: 04 Nov 2016 10:22
Last Modified: 04 Nov 2016 10:22
URI: http://trap.ncirl.ie/id/eprint/2328

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