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https://hdl.handle.net/10316/106672| Title: | Flip the coin: Heads, tails or cryptocurrencies? | Authors: | Duarte, António Manuel Portugal Murta, Fátima Teresa Sol Silva, Nuno Baetas da Vieira, Beatriz Rodrigues |
Keywords: | Centralized currencies, cryptocurrencies; GARCH models; volatility | Issue Date: | 7-Mar-2023 | Publisher: | CeBER working Paper | Series/Report no.: | CeBER Working Paper 2022-02; | Serial title, monograph or event: | CeBER Working Paper | Place of publication or event: | https://www.uc.pt/en/uid/ceber/working-paper?key=8c2e3593 | 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. | URI: | https://hdl.handle.net/10316/106672 | Rights: | openAccess |
| Appears in Collections: | I&D CeBER - Working Papers |
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| File | Description | Size | Format | |
|---|---|---|---|---|
| wp-ceber-2023-2.pdf | Flip the coin: Heads, tails or cryptocurrencies? | 655.8 kB | Adobe PDF | View/Open |
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