Author:
Portugal Duarte António,Sol Murta Fátima,Baetas da Silva Nuno,Rodrigues Vieira Beatriz
Abstract
This paper analysis and compares the volatility of seven cryptocurrencies – Bitcoin, Dogecoin, Ethereum, BitcoinCash, Ripple, Stellar and Litecoin – to the volatility of seven centralized currencies – Yuan, Yen, Canadian Dollar, Brazilian Real, Swiss Franc, Euro and British Pound. We estimate GARCH models to analyze their volatility. The results point to a considerably high volatility of cryptocurrencies when compared to that of centralized currencies. Therefore, we conclude that cryptocurrencies still fall far short of fulfilling all the requirements to be considered as a currency, specifically regarding the functions of store of value and unit of account.
Publisher
Editura Universitatii Alexandru Ioan Cuza din Iasi
Subject
General Economics, Econometrics and Finance,General Business, Management and Accounting
Cited by
2 articles.
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