| The determinants of positive feedback trading behaviors in Bitcoin markets | |
|---|---|
| 學年 | 110 |
| 學期 | 2 |
| 出版（發表）日期 | 2022-03-01 |
| 作品名稱 | The determinants of positive feedback trading behaviors in Bitcoin markets |
| 作品名稱（其他語言） | |
| 著者 | Jying-Nan Wang; Yen-Hsien Lee; Hung-Chun Liu; Ming-Chih Lee |
| 單位 | |
| 出版者 | |
| 著錄名稱、卷期、頁數 | Finance Research Letters 45, 102120 |
| 摘要 | This study investigates the positive feedback trading behavior in Bitcoin markets and analyzes its potential determinants. Our results show significant evidence of positive feedback trading behaviors for Bitcoin and the infectious disease equity market volatility tracker index (EMVID) increases Bitcoin volatility. Combining rolling window estimations with regression analysis, we find that market uncertainty that is measured by EMVID, the distance between short- and long-term moving averages of Bitcoin's trading volumes, and Bitcoin prices exceeding their 21-day moving average are positively correlated with future positive feedback trading behaviors during the COVID-19 pandemic. Further, left-tailed risk contributes negatively to this behavioral anomaly. |
| 關鍵字 | Bitcoin;Positive feedback trading;COVID-19;EMVID;Moving average |
| 語言 | en_US |
| ISSN | 1544-6123 |
| 期刊性質 | 國外 |
| 收錄於 | SSCI EconLit |
| 產學合作 | |
| 通訊作者 | |
| 審稿制度 | 否 |
| 國別 | TWN |
| 公開徵稿 | |
| 出版型式 | ,電子版,紙本 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/122303 ) |
| SDGS | 優質教育 |
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