El mercado de criptomonedas. Un análisis de web

  1. Carlos Jaureguizar Francés 1
  2. Pilar Grau-Carles 1
  3. Diego Jaureguizar Arellano 2
  1. 1 Universidad Rey Juan Carlos
    info

    Universidad Rey Juan Carlos

    Madrid, España

    ROR https://ror.org/01v5cv687

  2. 2 Universidad Pontificia Comillas
    info

    Universidad Pontificia Comillas

    Madrid, España

    ROR https://ror.org/017mdc710

Journal:
Esic market

ISSN: 0212-1867

Year of publication: 2018

Issue: 161

Pages: 569-598

Type: Article

DOI: 10.7200/ESICM.161.0493.4E DIALNET GOOGLE SCHOLAR

More publications in: Esic market

Abstract

In this paper we examine the characteristics of the daily price series of 16 different cryptocurrencies between July 2017 and February 2018. The methodologies used for the analysis are the so-called Minimum Spanning Tree (MST) and hierarchical analysis by dendrogram, both obtained Pearson correlations between daily returns. This methodology visualizes the market relationships between the assets analyzed, identifying a high correlation between price movements for all the currencies. In addition, it has been possible to identify Ethereum’s position as a benchmark currency in the cryptocurrency market, rather than Bitcoin, as one might expect, due to its popularity and trading volume.

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Data source: Dialnet