Bitcoin Liquidity

Bitcoin is emerging as a popular financial asset and means of transacting. However, little is known about its liquidity. We consider whether various dimensions evident in other asset class liquidity apply to bitcoin liquidity. We find there is both substantial variation in the level of liquidity across different exchanges and currency pairs and a strong systematic aspect to bitcoin liquidity. Moreover, changes in currency liquidity influence bitcoin liquidity. The pricing of bitcoin is relatively inefficient and liquidity plays an important role. Liquidity declines also contribute to bitcoin crash risk

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Year of publication:	2019
Authors:	Marshall, Ben R.
Other Persons:	Nguyen, Nhut H. (contributor) ; Visaltanachoti, Nuttawat (contributor)
Publisher:	[2019]: [S.l.] : SSRN
Subject:	Online-Handel \| Online retailing \| Liquidität \| Liquidity \| Elektronisches Geld \| Electronic money \| Virtuelle Währung \| Virtual currency \| Bargeldloser Zahlungsverkehr \| Noncash payments \| Betriebliche Liquidität \| Corporate liquidity

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Extent:	1 Online-Ressource (45 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 31, 2019 erstellt
Other identifiers:	10.2139/ssrn.3194869 [DOI]
Classification:	G11 - Portfolio Choice ; G23 - Pension Funds; Other Private Financial Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012899053