Ladislav Kristoufek

Charles University in Prague


Ladislav Kristoufek

Thursday 12th June 2014, 4:10pm


TWITTER | @lkristoufek

TITLE | What are the main drivers of the Bitcoin price? Evidence from wavelet coherence analysis

ABSTRACT | Bitcoin has emerged as a fascinating phenomenon of the financial markets. Without any central authority issuing the currency, it has been associated with controversy ever since its popularity and public interest reached high levels. Here, we contribute to the discussion by examining potential drivers of Bitcoin prices ranging from fundamental to speculative and technical sources as well as a potential influence of the Chinese market. The evolution of the relationships is examined in both time and frequency domains utilizing the continuous wavelets framework so that we comment on development of the interconnections in time but we can also distinguish between short-term and long-term connections.

BIOGRAPHY | Ladislav Kristoufek, Ph.D. is a research associate at the Institute of Information Theory and Automation, Academy Sciences of the Czech Republic, and an assistant professor at the Institute of Economic Studies, Faculty of Social Sciences, Charles University in Prague, Czech Republic. Main research interests are – econophysics, financial econometrics, computational social science, complex systems and statistics.