<abstract xmlns="http://www.w3.org/1999/xhtml"><p>This paper provides a comprehensive overview of cryptocurrencies, including the origin of cryptocurrencies, how cryptocurrencies operate, and the current situation of cryptocurrencies. In addition, we also provide the performance comparison of major cryptocurrencies with the performance of the stock market indexes. All the cryptocurrencies exhibit higher average returns and volatility than the stock market indexes, which appeals to risk-taking investors. We then perform additional analysis on the determinants of cryptocurrencies returns. We show that major fundamental variables are less likely to affect the returns of cryptocurrencies except for the S&amp;P 500 index returns and the exchange rates between U.S. dollars and Euros.</p></abstract>

This paper provides a comprehensive overview of cryptocurrencies, including the origin of cryptocurrencies, how cryptocurrencies operate, and the current situation of cryptocurrencies. In addition, we also provide the performance comparison of major cryptocurrencies with the performance of the stock market indexes. All the cryptocurrencies exhibit higher average returns and volatility than the stock market indexes, which appeals to risk-taking investors. We then perform additional analysis on the determinants of cryptocurrencies returns. We show that major fundamental variables are less likely to affect the returns of cryptocurrencies except for the S&P 500 index returns and the exchange rates between U.S. dollars and Euros.

Are Cryptocurrencies Good Investments?

Studies in Business and Economics

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Are Cryptocurrencies Good Investments?"}

This paper provides a comprehensive overview of cryptocurrencies, including the origin of cryptocurrencies, how cryptocurrencies operate, and the current...

Are Cryptocurrencies Good Investments?

Data publikacji: 16 wrz 2019

Zakres stron: 181 - 192

DOI: https://doi.org/10.2478/sbe-2019-0033

Słowa kluczowe
Cryptocurrencies, Market Indexes, Fundamentals, Performance

© 2019 Sheets Ben et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Are Cryptocurrencies Good Investments?

Data publikacji: 16 wrz 2019

Zakres stron: 181 - 192

DOI: https://doi.org/10.2478/sbe-2019-0033

Słowa kluczoweCryptocurrencies, Market Indexes, Fundamentals, Performance

© 2019 Sheets Ben et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Słowa kluczowe
Cryptocurrencies, Market Indexes, Fundamentals, Performance