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Journals / Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi / 2019 / Cilt: 7 - Sayı: 6

Bubbles in Bitcoin Markets: Generalized Sup ADF Test

Bitcoin Piyasasında Balonlar: Genelleştirilmiş Eküs ADF Testi

Mehmet SONGUR
Pages
187–192
Publication Date
2022-10-11
DOI
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The results show that there are many bubbles in the bitcoin market.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Along with the rapid developments in the use of internet, the money that is physically involved in human life has also started to be digitalized.
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Key Findings & Data:The first bitcoin was released in 2009.
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Conclusion & Impact:The results show that there are many bubbles in the bitcoin market.
🔬Design:Research Article
📍Scope:2009 Verileri
⚙️Variables:Domain Parameters

Abstract

Along with the rapid developments in the use of internet, the money that is physically involved in human life has also started to be digitalized. Such digitizedcurrencies are generally called crypto currencies. Currently, Bitcoin has the highest transaction volume among the crypto currencies. The first bitcoin was released in 2009. However, in the last few years it has started to attract considerable attention. One of the main reasons for this interest is the significant increase in the value of Bitcoin. In the context of these increases, it is important to investigate the existence of speculative bubbles in the Bitcoin market. In this context, the aim of this study is to investigate the presence of speculative bubbles in the Bitcoin market during the period 2015-2018. In line with the purpose, Generalized Sup ADF test developed by Phillips et al. (2015) is used to detect speculative bubbles. The results show that there are many bubbles in the bitcoin market.

Özet

İnternet kullanımındaki hızlı gelişmeler ile birlikte, insan hayatına fiziksel olarak dahil olan parada dijitalleşmeye başlamıştır. Bu tür dijitalleşmiş para birimlerine genel olarak kripto paradenilmektedir. Hali hazırda, Bitcoin, kripto para birimleri arasında en yüksek işlem hacminesahiptir. İlk Bitcoin 2009 yılında piyasaya sürüldü. Fakat son birkaç yılda ciddi derecede ilgiçekmeye başladı. Bu ilginin temel nedenlerinden birisi, Bitcoin'in değerinde önemli artışlarınolmasıdır. Söz konusu değer artışları bağlamında, Bitcoin piyasasında spekülatif balonlarınvarlığının araştırılması önem arzetmektedir. Bu bağlamda, çalışmanın amacı 2015-2018 dönemiboyunca Bitcoin piyasasında spekülatif balonların varlığını araştırmaktır. Amaç doğrultusunda,spekülatif balonların tespiti için Phillips vd. (2015) tarafından geliştirilen Genelleştirilmiş EküsADF testi kullanılmıştır. Elde edilen bulgular,Bitcoin piyasasında çok sayıda baloncuk olduğunugöstermektedir.

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Cite This Article

SONGUR, M. (2022). Bubbles in Bitcoin Markets: Generalized Sup ADF Test. Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi, Cilt: 7 - Sayı: 6, 187–192. https://ajindex.com/articles/440068

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