Can Bitcoin Investors Profit from Predictions by Crypto Experts?
Publikation: Beitrag in Fachzeitschrift › Forschungsartikel › Beigetragen
Beitragende
Abstract
Using a hand-collected dataset containing bullish, neutral, and bearish predictions for Bitcoin published by crypto experts, we show that neutral and bearish predictions are followed by negative abnormal returns whereas bullish predictions are not associated with nonzero abnormal returns. Based on all outstanding predictions, we compute prediction revisions relative to (i) the latest issued prediction and (ii) the outstanding consensus prediction. Downward revisions are followed by negative abnormal returns. We conclude that crypto experts are skilled information intermediaries on the Bitcoin market.
Details
Originalsprache | Englisch |
---|---|
Aufsatznummer | 102266 |
Seitenumfang | 7 |
Fachzeitschrift | Finance Research Letters |
Jahrgang | 46 |
Publikationsstatus | Veröffentlicht - Mai 2022 |
Peer-Review-Status | Nein |
Externe IDs
Scopus | 85109754499 |
---|---|
ORCID | /0000-0003-4359-987X/work/142255144 |
Schlagworte
ASJC Scopus Sachgebiete
Schlagwörter
- Bitcoin, Cryptocurrencies, Forecasts, Experts, Predictions, Market efficiency, Analysts