Skip to main content

Market Analysis of Blockchain-Based Cryptocurrencies

  • Chapter
  • First Online:
Blockchain Intelligence
  • 1303 Accesses

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.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Notes

  1. 1.

    www.thisisinsider.com/.

References

  • Alvarezramirez, J., Rodriguez, E., & Echeverria, J. C. (2009). A DFA approach for assessing asymmetric correlations. Physica A, 388(12), 2263–2270.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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)

    Google Scholar 

  • 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.

    Google Scholar 

  • 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.

    Article  MathSciNet  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    Chapter  Google Scholar 

  • 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.

    Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • Gandal, N., Hamrick, J. T., Moore, T., & Oberman, T. (2018). Price manipulation in the bitcoin ecosystem. Journal of Monetary Economics, 95, 86–96.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    MathSciNet  MATH  Google Scholar 

  • Jeong, K., Härdle, W. K., & Song, S. (2012). A consistent nonparametric test for causality in quantile. Econometric Theory, 28(4), 861–887.

    Article  MathSciNet  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • Lahmiri, S., & Bekiros, S. (2018). Chaos, randomness and multi-fractality in bitcoin market. Chaos Solitons & Fractals, 106, 28–34.

    Article  MathSciNet  Google Scholar 

  • Lahmiri, S., Bekiros, S., & Salvi, A. (2018). Long-range memory, distributional variation and randomness of bitcoin volatility. Chaos Solitons & Fractals, 107, 43–48.

    Article  MathSciNet  Google Scholar 

  • Liew, K. S. (2004). Which lag selection criteria should we employ? Social Science Electronic Publishing, 3(33), 1–9.

    Google Scholar 

  • Mandelbrot, B. B., & Taqqu, M. S. (1979). Robust R/S analysis of long run serial correlation. New York: IBM Thomas J. Watson Research Division.

    MATH  Google Scholar 

  • Matteo, T. D., Aste, T., & Dacorogna, M. M. (2003). Scaling behaviors in differently developed markets. Physica A, 324(1), 183–188

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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.

    Article  Google Scholar 

  • 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

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Jiajing Wu .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2021 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

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)

Publish with us

Policies and ethics