Bitcoin ecology: Quantifying and modelling the long-term dynamics of the cryptocurrency market

  title={Bitcoin ecology: Quantifying and modelling the long-term dynamics of the cryptocurrency market},
  author={Abeer ElBahrawy and Laura Alessandretti and Anne Kandler and Romualdo Pastor-Satorras and Andrea Baronchelli},
The cryptocurrency market has reached a record of $91 billion market capitalization in May 2017, after months of steady growth. Despite its increasing relevance in the financial world, however, a comprehensive analysis of the whole system is still lacking, as most studies have focused exclusively on the behavior of one (Bitcoin) or few cryptocurrencies. Here, we consider the history of the entire market and analyze the behavior of 1, 469 cryptocurrencies introduced since April 2013. We reveal… 

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