a column by Siddharth Bhambhwani, Stefanos Delikouras and George Korniotis for VOX: CEPR’s Policy Portal
We do not know which characteristics affect cryptocurrency prices, if any.
The column argues that there are two fundamental factors that drive prices in the long run: the trustworthiness of the cryptocurrency’s blockchain and the adoption of the blockchain. Cryptocurrencies such as Bitcoin, Ethereum, and Monero are affected by these fundamentals. In some periods prices deviate, but eventually retrace the trend.
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