| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 963818 | Journal of International Financial Markets, Institutions and Money | 2015 | 18 Pages |
Abstract
•Bitcoin is traded at several exchanges.•We study the Bitcoin price discovery at these exchanges.•The market leaders with the highest information share are Mt.Gox and BTC-e.•The information share is dynamic and displays significant variation over time.
Bitcoin is an open source peer-to-peer electronic money and payment system. It is traded at several exchanges and high-frequency trade data are publicly available. We study the contributions of Bitcoin exchanges to price discovery. Our results show that Mt.Gox and BTC-e are the market leaders with the highest information share. Our analysis further suggests that information share is dynamic and evolves significantly over time.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Morten Brandvold, Peter Molnár, Kristian Vagstad, Ole Christian Andreas Valstad,