Abstract
In this chapter, we present market analysis of blockchain-based cryptocurrencies from two perspectives. The one is about what features we can take into consideration based on cryptocurrencies market and what we can find by analyzing them. We will illustrate it by analyzing some interesting features on Ether market and compare them with Bitcoin during the same time period. The other is about detecting abnormal behaviors on cryptocurrencies market. We will introduce how we detect “pump & dump schemes” on cryptocurrency market using an improved Apriori algorithm.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
References
Alvarezramirez, J., Rodriguez, E., & Echeverria, J. C. (2009). A DFA approach for assessing asymmetric correlations. Physica A, 388(12), 2263–2270.
Balcilar, M., Bouri, E., Gupta, R., & Roubaud, D. (2017). Can volume predict bitcoin returns and volatility? A quantiles-based approach. Economic Modelling, 64(August), 74–81.
Balcilar, M., Gupta, R., Kyei, C., & Wohar, M. E. (2016). Does economic policy uncertainty predict exchange rate returns and volatility? Evidence from a nonparametric causality-in-quantiles test. Open Economies Review, 27(2), 229–250 (2016)
Bariviera, A. F., Basgall, M. J., Hasperué, W., & Naiouf, M. (2017). Some stylized facts of the bitcoin market. Social Science Electronic Publishing, 484, 82–90.
Broock, W. A., Scheinkman, J. A., Dechert, W. D., & Lebaron, B. (1995). A test for independence based on the correlation dimension. Econometric Reviews, 15(3), 197–235.
Cajueiro, D. O., Gogas, P., & Tabak, B. M. (2009). Does financial market liberalization increase the degree of market efficiency? The case of the athens stock exchange. International Review of Financial Analysis, 18(1), 50–57.
Cajueiro, D. O., & Tabak, B. M. (2004). Evidence of long range dependence in asian equity markets: The role of liquidity and market restrictions. Physica A, 342(3), 656–664.
Cao, G., Cao, J., & Xu, L. (2013). Asymmetric multifractal scaling behavior in the chinese stock market: Based on asymmetric MF-DFA. Physica A, 392(4), 797–807.
Chen, W., Wu, J., Zheng, Z., Chen, C., & Zhou, Y. (2019). Market manipulation of bitcoin: Evidence from mining the mt. gox transaction network. In IEEE INFOCOM 2019-IEEE Conference on Computer Communications (pp. 964–972). Piscataway: IEEE.
Crypto asset exchange. https://poloniex.com/. Accessed March, 2019.
Drożdż, S., Gȩbarowski, R., Minati, L., Oświȩcimka, P., & Wa̧torek, M. (2018). Bitcoin market route to maturity? Evidence from return fluctuations, temporal correlations and multiscaling effects. Chaos, 28, 071101.
Feder, A., Gandal, N., Hamrick, J. T., & Moore, T. (2018). The impact of DDoS and other security shocks on Bitcoin currency exchanges: evidence from Mt. Gox. Journal of Cybersecurity, 3(2), 137–144, 01. ISSN 2057-2085. https://doi.org/10.1093/cybsec/tyx012.
Federal Trade Commission. FTC to host cryptocurrency workshop on June 25, April (2018). https://www.ftc.gov/news-events/press-releases/2018/04/ftc-host-cryptocurrency-workshop-june-25.
Gallant, A. R., Rossi, P. E., & Tauchen, G. (1992). Stock prices and volume. Review of Financial Studies, 5(2), 199–242.
Gandal, N., Hamrick, J. T., Moore, T., & Oberman, T. (2018). Price manipulation in the bitcoin ecosystem. Journal of Monetary Economics, 95, 86–96.
Gebka, B., & Wohar, M. E. (2013). Causality between trading volume and returns: Evidence from quantile regressions. International Review of Economics & Finance, 27(2), 144–159.
Jarque, C. M., & Bera, A. K. (1987). A test for normality of observations and regression residuals. International Statistical Review/Revue Internationale de Statistique, 55, 163–172.
Jeong, K., Härdle, W. K., & Song, S. (2012). A consistent nonparametric test for causality in quantile. Econometric Theory, 28(4), 861–887.
Kantelhardt, J. W., Zschiegner, S. A., Koscielny-Bunde, E., Bunde, A., & Stanley, H. E. (2002). Multifractal detrended fuctuation analysis of nonstationary time series. Physica A, 316(1), 87–114.
Kondor, D., Csabai, I., Szüle, J., Pósfai, M., & Vattay, G. (2014). Inferring the interplay between network structure and market effects in bitcoin. New Journal of Physics, 16(12), 125003.
Lahmiri, S., & Bekiros, S. (2018). Chaos, randomness and multi-fractality in bitcoin market. Chaos Solitons & Fractals, 106, 28–34.
Lahmiri, S., Bekiros, S., & Salvi, A. (2018). Long-range memory, distributional variation and randomness of bitcoin volatility. Chaos Solitons & Fractals, 107, 43–48.
Liew, K. S. (2004). Which lag selection criteria should we employ? Social Science Electronic Publishing, 3(33), 1–9.
Mandelbrot, B. B., & Taqqu, M. S. (1979). Robust R/S analysis of long run serial correlation. New York: IBM Thomas J. Watson Research Division.
Matteo, T. D., Aste, T., & Dacorogna, M. M. (2003). Scaling behaviors in differently developed markets. Physica A, 324(1), 183–188
Peng, C. K., Buldyrev, S. V., Havlin, S., Simons, M., & Goldberger, A. L. (1994). Mosaic organization of dna nucleotides. Physical Review E Statistical Physics Plasmas Fluids & Related Interdisciplinary Topics, 49(2), 1685.
Peng, C. K., Havlin, S., Stanley, H. E., & Goldberger, A. L. (1995). Quantification of scaling exponents and crossover phenomena in nonstationary heartbeat time series. Chaos: An Interdisciplinary Journal of Nonlinear Science, 5(1), 82–87.
Wang, Y., Liu, L., Gu, R., Cao, J., & Wang, H. (2010). Analysis of market efficiency for the shanghai stock market over time. Physica A, 389(8), 1635–1642.
Wikipedia contributors. Pump and dump (2018). https://en.wikipedia.org/w/index.php?title=Pump_and_dump&oldid=861407577
Williams-Grut, O. (2017). Walkthrough: How traders ‘pump and dump’ cryptocurrencies. https://www.thisisinsider.com/how-traders-pump-and-dump-cryptocurrencies-2017-11
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2021 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Han, Q., Wu, J., Chen, W., Xu, Y., Zheng, Z. (2021). Market Analysis of Blockchain-Based Cryptocurrencies. In: Zheng, Z., Dai, HN., Wu, J. (eds) Blockchain Intelligence. Springer, Singapore. https://doi.org/10.1007/978-981-16-0127-9_6
Download citation
DOI: https://doi.org/10.1007/978-981-16-0127-9_6
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-16-0126-2
Online ISBN: 978-981-16-0127-9
eBook Packages: Computer ScienceComputer Science (R0)