Dissection of Bitcoin's multiscale bubble history from January 2012 to February 2018.

ABSTRACT: We present a detailed bubble analysis of the Bitcoin to US Dollar price dynamics from January 2012 to February 2018. We introduce a robust automatic peak detection method that classifies price time series into periods of uninterrupted market growth (drawups) and regimes of uninterrupted market decrease (drawdowns). In combination with the Lagrange Regularization Method for detecting the beginning of a new market regime, we identify three major peaks and 10 additional smaller peaks, that have punctuated the dynamics of Bitcoin price during the analysed time period. We explain this classification of long and short bubbles by a number of quantitative metrics and graphs to understand the main socio-economic drivers behind the ascent of Bitcoin over this period. Then, a detailed analysis

SUBMITTER: Gerlach JC 

PROVIDER: S-EPMC6689597 | biostudies-literature | 2019 Jul

REPOSITORIES: biostudies-literature