Bitcoin Piyasalarının Etkinliği, Likiditesi ve Oynaklığı (Efficiency, Liquidity and Volatility of Bitcoin Markets) | Zendy

Şahnaz Koçoğlu | Zendy; Yasin Erdem ÇEVİK | Zendy; Cihan Tanrıöven | Zendy

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Bitcoin Piyasalarının Etkinliği, Likiditesi ve Oynaklığı (Efficiency, Liquidity and Volatility of Bitcoin Markets)

Author(s) -

Şahnaz Koçoğlu,

Yasin Erdem ÇEVİK,

Cihan Tanrıöven

Publication year - 2016

Publication title -

journal of business research - turk

Language(s) - English

Resource type - Journals

ISSN - 1309-0712

DOI - 10.20491/isarder.2016.170

Subject(s) - market liquidity , speculation , volatility (finance) , monetary economics , cryptocurrency , payment , business , real economy , virtual currency , digital currency , economics , commerce , financial economics , finance , currency , computer security , computer science

Bitcoin is a virtual money and a new payment system which is not regulated by a central authority. Bitcoin became popular quickly and gained the ability of affecting the real economy. Being used extensively and seen as an investment tool, Bitcoin created its own market, users and investors. This study aims to shed light on Bitcoin market. To understand what Bitcoin is, the history of Bitcoin was summarized firstly and the Bitcoin system and how the protocol works was explained. Then Efficiency, Liquidity and Volatility of the Bitcoin Markets were analyzed. We concluded that the pricing of Bitcoin is too complicated; and the Bitcoin market is still vulnerable to many risks and speculation.

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