References
- Baek, C., and M. Elbeck. 2015. “Bitcoins as an Investment or Speculative Vehicle? A First Look.” Applied Economics Letters, vol. 22, no. 1: 30–34 https://doi.org/10.1080/13504851.2014.916379.
- Bariviera, Aurelio F.. 2017. “The Inefficiency of Bitcoin Revisited: A Dynamic Approach.” Economics Letters, vol. 161: 1–4 https://doi.org/10.1016/j.econlet.2017.09.013.
- Baur, Dirk G., Kihoon Hong, and Adrian D. Lee. 2018. “Bitcoin: Medium of Exchange or Speculative Assets?” Journal of International Financial Markets, Institutions and Money, vol. 54: 177–89 https://doi.org/10.1016/j.intfin.2017.12.004.
- Baydakova, Anna. 2019. ‘No Change’ to Bitcoin Futures Plan, CME Says, as Cboe Pulls Back CoinDesk15 (March) https://www.coindesk.com/cme-cboe-bitcoin-futures.
- Bianchi, Daniele, and Alexander Dickerson. 2018. Trading Volume in Cryptocurrency Markets Working paper https://doi.org/10.2139/ssrn.3239670.
- Borri, Nicola, and Kirill Shakhnov. 2018a. The Cross-Section of Cryptocurrency Returns Working paper https://doi.org/10.2139/ssrn.3241485.
- Borri, Nicola, and Kirill Shakhnov. 2018b. Cryptomarket Discounts Working paper https://doi.org/10.2139/ssrn.3124394.
- Brauneis, Alexander, and Roland Mestel. 2018. “Price Discovery of Cryptocurrencies: Bitcoin and Beyond.” Economics Letters, vol. 165: 58–61 https://doi.org/10.1016/j.econlet.2018.02.001.
- Dickey, D.A., and W.A. Fuller. 1979. “Distribution of the Estimators for Autoregressive Time Series with a Unit Root.” Journal of the American Statistical Association, vol. 74, no. 366: 427–31.
- Edwards, Franklin R., Kathleen Hanley, Robert Litan, and Roman L. Weil. 2019. “Crypto Assets Require Better Regulation: Statement of the Financial Economists Roundtable on Crypto Assets.” Financial Analysts Journal, vol. 75, no. 2: 14–19 https://doi.org/10.1080/0015198X.2019.1593766.
- Engle, Robert F.. 1982. “Autoregressive Conditional Heteroscedasticity with Estimates of the Variance of United Kingdom Inflation.” Econometrica, vol. 50, no. 4: 987–1007.
- Fama, Eugene F.. 1970. “Efficient Capital Markets: A Review of Theory and Empirical Work.” Journal of Finance, vol. 25, no. 2: 383–417 https://doi.org/10.2307/2325486.
- Gandal, Neil, and Hanna Halaburda. 2014. Competition in the Cryptocurrency Market Bank of Canada Working Paper 2014-33. https://www.bankofcanada.ca/2014/08/working-paper-2014-33/.
- Hattori, Takahiro, and Ryo Ishida. 2018. Do Investors Arbitrage in the Cryptocurrency Market? Evidence from the Bitcoin Futures Market Working paper https://doi.org/10.2139/ssrn.3209625.
- Hayes, Adam. 2015. The Decision to Produce Altcoins: Miners’ Arbitrage in Cryptocurrency Markets Working paper https://doi.org/10.2139/ssrn.2579448.
- Jiang, Yonghong, He Nie, and Weihua Ruan. 2018. “Time-Varying Long-Term Memory in Bitcoin Market.” Finance Research Letters, vol. 25: 280–84 https://doi.org/10.1016/j.frl.2017.12.009.
- Kharif, Olga. 2019. Anybody Can Now Bet on Bitcoin $100,000 with New Call Options Bloomberg16 (July) https://www.bloomberg.com/news/articles/2019-07-16/anybody-can-now-bet-on- bitcoin-100-000-with-new-call-options.
- Kwiatkowski, D., P.C.B Phillips, P Schmidt, and Y Shin. 1992. “Testing the Null Hypothesis of Stationarity against the Alternative of a Unit Root.” Journal of Econometrics, vol. 54, no. 1–3: 159–78.
- Lee, David, Chuen Kuo, Guo Li, and Yu Wang. 2018. “Cryptocurrency: A New Investment Opportunity?” Journal of Alternative Investments, vol. 20, no. 3: 16–40.
- Liu, Yukun, and Aleh Tsyvinski. 2018. Risks and Returns of Cryptocurrency NBER Working Paper 24877 https://doi.org/10.3386/w24877.
- Makarov, Igor, and Antoinette Schoar. 2020. “Trading and Arbitrage in Cryptocurrency Markets.” Journal of Financial Economics, vol. 135, no. 2: 293–319 doi:10.1016/j.jfineco.2019.07.001.
- Phillips, P.C.B, and P Perron. 1988. “Testing for a Unit Root in Time Series Regression.” Biometrika, vol. 75, no. 2: 335–46.
- Sedgwick, Kai. 2018. Order Speed Analysis Reveals the Fastest Cryptocurrency Exchanges Bitcoin.com18 (October) https://news.bitcoin.com/order-speed-analysis-reveals-the-fastest-cryptocurrency-exchanges/.
- Selgin, George. 2015. “Synthetic Commodity Money.” Journal of Financial Stability, vol. 17: 92–99 https://doi.org/10.1016/j.jfs.2014.07.002.
- Sontakke, Kaustubh Arvind, and Aishwarya Ghaisas. 2017. “Cryptocurrencies: A Developing Asset Class.” International Journal of Business Insights and Transformation, vol. 10, no. 2: 10–17.
- Urquhart, Andrew. 2016. “The Inefficiency of Bitcoin.” Economics Letters, vol. 148: 80–82 https://doi.org/10.1016/j.econlet.2016.09.019.
- Wilson, Tom. 2018. As Bitcoin Trading Shifts Shape, Big Money Stays Away Reuters7 (December) https://www.reuters.com/article/us-crypto-currencies-trading-analysis/as-bitcoin-trading-shifts-shape-big-money-stays-away-idUSKBN1O61SH.