Bitcoin Poison? Anecdotal Evidence from Bitcoin Miners Revenue

David Spohn

doi:10.11114/aef.v5i4.3327

Bitcoin Poison? Anecdotal Evidence from Bitcoin Miners Revenue

David Spohn^*

^*Corresponding author for this work

Independent Researcher

Research output: Contribution to journal › Article › peer-review

Abstract

This paper explores the predictive qualities of Bitcoin Miners Revenue on Bitcoin Returns. Using data on Bitcoin in the cryptocurrency market from July 1, 2010 to February 20, 2018, we reflect intervariable correlations not previously examined. We analyze those relationships with a conditional regression analysis adjusting for calendar effects. We separate the sample, and use the last 17 trading days (month) to test a strategy based on the probability of Bitcoin Returns moving higher. After a slight modification to the logistic regression analysis, we find a profitable trading strategy exists based solely on Bitcoin Miners Revenue and the probability of Bitcoin Returns moving higher.

Original language	American English
Pages (from-to)	150-159
Number of pages	10
Journal	Applied Economics and Finance
Volume	5
Issue number	4
Early online date	Jun 26 2018
DOIs	https://doi.org/10.11114/aef.v5i4.3327
State	Published - Jul 2018
Externally published	Yes

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Cite this

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title = "Bitcoin Poison? Anecdotal Evidence from Bitcoin Miners Revenue",

abstract = "This paper explores the predictive qualities of Bitcoin Miners Revenue on Bitcoin Returns. Using data on Bitcoin in the cryptocurrency market from July 1, 2010 to February 20, 2018, we reflect intervariable correlations not previously examined. We analyze those relationships with a conditional regression analysis adjusting for calendar effects. We separate the sample, and use the last 17 trading days (month) to test a strategy based on the probability of Bitcoin Returns moving higher. After a slight modification to the logistic regression analysis, we find a profitable trading strategy exists based solely on Bitcoin Miners Revenue and the probability of Bitcoin Returns moving higher.",

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Bitcoin Poison? Anecdotal Evidence from Bitcoin Miners Revenue

Abstract

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