Flip the coin: Heads, tails or cryptocurrencies?

Utilize este identificador para referenciar este registo: https://hdl.handle.net/10316/106672

Título:	Flip the coin: Heads, tails or cryptocurrencies?
Autor:	Duarte, António Manuel Portugal Murta, Fátima Teresa Sol Silva, Nuno Baetas da Vieira, Beatriz Rodrigues
Palavras-chave:	Centralized currencies, cryptocurrencies; GARCH models; volatility
Data:	7-Mar-2023
Editora:	CeBER working Paper
Relatório da Série N.º:	CeBER Working Paper 2022-02;
Título da revista, periódico, livro ou evento:	CeBER Working Paper
Local de edição ou do evento:	https://www.uc.pt/en/uid/ceber/working-paper?key=8c2e3593
Resumo:	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
Direitos:	openAccess
Aparece nas coleções:	I&D CeBER - Working Papers

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