Complex Systems Theory And Crashes Of Cryptocurrency Market

The paper focuses on the study of the impact of extended memory and the analysis of the multifractal properties of the time series of the most capitalized cryptocurrencies for the period from 2010 to 2018. To do this, the Hurst exponent is calculated by each R/S analysis and the Detrended Fluctuation Analysis getting much more steady in the case of non-stationary time series. If you have any inquiries with regards to where by and how to use Facebook Digital Currency, you can call us at our own web page. We also found that (i) time series became anti-persistent in the course of the periods of industry crisis phenomena and turbulence (ii) the Hurst exponents showed significant fluctuations about the value of .5. In addition, we conduct a multifractal evaluation of cryptocurrency time series that enables us to assess the state and stability of the marketplace.The calculated spectrum of multifractality shows that the cryptocurrency market comes out of a crisis state, considering that the width of the multifractality spectrum has the maximum value for all cryptocurrencies. Our benefits show that time series of cryptocurrencies to be persistent during virtually the complete study period that do not enable accepting the hypothesis concerning the efficiency of the cryptocurrency market place.

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