Economics, Econometrics and Finance
4 years ago

Cryptocurrencies' Daily Walks Efficient, Weekly Walks Inefficient: Market Implications.

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Heliyon
On the (in)efficiency of cryptocurrencies: have they taken daily or weekly random walks?
Natalya Apopo, Andrew Phiri

Paper Summary

Cryptocurrencies like Bitcoin and others are being tested to see if they are efficient in the market. The researchers looked at the top five cryptocurrencies to see if their prices follow a random pattern. They found that daily cryptocurrency prices do follow a random pattern, which means they are efficient. However, weekly prices do not follow a random pattern, which means they are not efficient. This has important implications for people who trade cryptocurrencies.

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