• Corpus ID: 55628160

How can Bitcoin Price Fluctuations be Explained

  title={How can Bitcoin Price Fluctuations be Explained},
  author={Frode Kj{\ae}rland and Maria Meland and Are Oust and Vilde {\O}yen},
  journal={International Journal of Economics and Financial Issues},
The purpose of this study is to uncover factors that explain Bitcoin’s price fluctuations. The price of the cryptocurrency Bitcoin is volatile and has increased from zero in 2009 to more than 19500 USD in December 2017. To explain the price movements we have estimated two autoregressive distributed lag models by using ordinary least squares regression. The data includes 279 weekly observations from 18.09.2011 to 05.02.2017 (before the extreme development from the summer of 2017). The dependent… 

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