Determinants of <i>Bitcoin</i> Expected Returns
Abstract
In this study, we investigate the relationship between Bitcoin mining technology variables and Bitcoin returns, using a GARCH-M model. Additionally, we examine the predictive power of the mining technology variables on future Bitcoin returns. We find that mining difficulty and block size are inversely related to Bitcoin returns. Additionally, our findings signifying that the higher the block size the lower the Bitcoin price and consequently the...
Paper Details
Title
Determinants of <i>Bitcoin</i> Expected Returns
Published Date
Jan 27, 2019
Volume
7
Issue
1
Pages
42 - 47
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