According to public opinion cryptocurrencies, especially bitcoin, have been attention taking lately. This can be addressed to the innovative characteristics of blockchain (the basis of the entire digital currency system), namely, the decentralized structure, not using any intermediaries, being anonymous, fast and secure. Being a fluctuating investment tool, the cryptocurrency system exhibits unpredictable ups and downs that make it a speculative asset. This research tries to estimate the bitcoin price volatility using the GARCH model where four different over-the-counter-market data, such as the BITSTAMP, COINBASE, ITBIT, KRAKEN are employed. The results for these four over-the-counter- markets indicate high volatility. Professionals and individuals occupying with bitcoin should take this speculative structure into consideration.
Bitcoin GARCH Cryptocurrency Volatility
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