The effect of the launch of bitcoin futures on the cryptocurrency market: an economic efficiency approach
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The effect of the launch of bitcoin futures on the cryptocurrency market: an economic efficiency approach

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The effect of the launch of bitcoin futures on the cryptocurrency market: an economic efficiency approach

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Vidal Tomás, David; Ibáñez Escribano, Ana María; Farinós, José Emilio
This document is a artículoDate2021
We analyze the economic efficiency of the cryptocurrency market after the launch of Bitcoin futures by means of the Data Envelopment Analysis and Malmquist Indexes. Our results show that the introduction of Bitcoin futures did not affect the economic efficiency of the cryptocurrency market. However, we observe that Bitcoin obtained the highest risk-return trade-off due to its liquidity compared to the rest of cryptocurrencies. Therefore, our paper underlines the support of investors on Bitcoin to the detriment of the rest of cryptocurrencies.

    Vidal-Tomás D, Ibáñez AM, Farinós JE. The Effect of the Launch of Bitcoin Futures on the Cryptocurrency Market: An Economic Efficiency Approach. Mathematics. 2021; 9(4):413.
https://doi.org/10.3390/math9040413

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