{"title":"The Psychology of Cryptocurrency Prices","authors":"A. Aloosh, Samuel Ouzan","doi":"10.2139/ssrn.3302680","DOIUrl":null,"url":null,"abstract":"Abstract This letter analyzes the dynamic of cryptocurrency prices through the lens of behavioral economics. Cryptocurrency market participants seem to behave irrationally. We provide evidence of the presence of significant small price bias for the cryptocurrency market, consistent with the hypothesis that investors react to the news differently according to the price-level. We find that low-priced cryptocurrencies are much more volatile than their high-priced counterparts.","PeriodicalId":126646,"journal":{"name":"PSN: Exchange Rates & Currency (International) (Topic)","volume":"46 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"23","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"PSN: Exchange Rates & Currency (International) (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3302680","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 23
Abstract
Abstract This letter analyzes the dynamic of cryptocurrency prices through the lens of behavioral economics. Cryptocurrency market participants seem to behave irrationally. We provide evidence of the presence of significant small price bias for the cryptocurrency market, consistent with the hypothesis that investors react to the news differently according to the price-level. We find that low-priced cryptocurrencies are much more volatile than their high-priced counterparts.
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