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arXiv · 2304.09939

Bitcoin: A life in crises

Jevgeni Tarassov·Nicolas Houlié
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Abstract

In this study, we investigate the BTC price time-series (17 August 2010-27 June 2021) and show that the 2017 pricing episode is not unique. We describe at least ten new events, which occurred since 2010-2011 and span more than five orders of price magnitudes ($US 1-$US 60k). We find that those events have a similar duration of approx. 50-100 days. Although we are not able to predict times of a price peak, we however succeed to approximate the BTC price evolution using a function that is similar to a Fibonacci sequence. Finally, we complete a comparison with other types of financial instruments (equities, currencies, gold) which suggests that BTC may be classified as an illiquid asset.

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BibTeXRIS

Jevgeni Tarassov, Nicolas Houlié. 2023-04-06. Bitcoin: A life in crises. https://arxiv.org/abs/2304.09939

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