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Bitcoin Markets Comprise Imminent Alternative to Foreign Exchange

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A report authored by researchers from the Henryk Niewodniczanski Institute of Nuclear Physics has found that Bitcoin is maturing. The report, courtesy of the Polish Academy of Sciences in Krakow, concludes that Bitcoin carries “concrete potential of imminently becoming a regular market” and “an alternative to the foreign exchange.”

Also Read: Research: Corporations Fail to Deliver on Blockchain Hype, Scalability a Top Concern

Polish Researchers Seek to Assess Maturity of Bitcoin Markets

The study, which is “Based on 1-min price changes recorded since year 2012,” assesses “the fluctuation properties of the rapidly emerging Bitcoin market … over chosen sub-periods, in terms of return distributions, volatility autocorrelation, Hurst exponents, and multiscaling effects.”

“Since high-frequency price data are available since the beginning of trading,” the researchers argue that “Bitcoin offers a unique window into the statistical characteristics of a market maturation trajectory.”

“Statistical Irregularities” Only Identified During Bitcoin Markets’ Infancy

Published in the scientific journal, Chaos: An Interdisciplinary Journal of Nonlinear Science, the report states that “While early trading was affected by system-specific irregularities, it is found that over the months preceding April 2018 all these statistical indicators approach the features hallmarking maturity. This can be taken as an indication that the Bitcoin market, and possibly other cryptocurrencies, carry concrete potential of imminently becoming a regular market alternative to the foreign exchange.”

Professor Stanisław Drożdż, one of the rese...

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