{"product_id":"bitcoin-pricing-an-empirical-analysis-von-andreas-bialek","title":"Bitcoin Pricing. An Empirical Analysis","description":"\u003cp\u003eMaster's Thesis from the year 2018 in the subject Business economics - Miscellaneous, grade: 1,3, University of Hamburg, language: English, abstract: In this paper, I analyze the relation between daily bitcoin returns and sentiment, using a dataset reaching from 2013 to 2018. I find that daily bitcoin returns are not only affected contemporaneous by the bitcoin-sentiment measures, but also in the next three days - while established stock-market sentiment measures provide no explanatory power. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eAdditionally, the negative emotions show return-reversal patterns as often observed in sentiment-induced mispricing literature, resulting in higher returns the next two days, after affecting returns negatively today. I further find that trading volume affects re-turns positively today, in the next four days, and that it is connected with stock-market measures. For what I wisdom, this is also the first academic research that uses the recently introduced Thomson Reuters MarketPsych Indices on cryptocurrencies.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783668911314\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783668911314","offer_id":39437973979229,"sku":"9783668911314","price":27.95,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/ead19893-e2c6-4213-bc43-97e580788701.jpg?v=1778563851","url":"https:\/\/shop.autorenwelt.de\/products\/bitcoin-pricing-an-empirical-analysis-von-andreas-bialek","provider":"Autorenwelt Shop","version":"1.0","type":"link"}