Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/245291 
Year of Publication: 
2020
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 8 [Issue:] 1 [Publisher:] Taylor & Francis [Place:] Abingdon [Year:] 2020 [Pages:] 1-10
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
This paper investigates the existence of herding behavior in cryptocurrencies market. Using data of the 20 large cryptocurrencies and MV Index Solution Crypto Compare Digital Assets for large cap index, we found no evidence of herding behavior using cross-sectional absolute standard deviation estimation. However, by applying a rolling window analysis, the results show significant herding behavior, which varies over time. Finally, we find an inverse relationship between herding behavior and the Bloomberg consumer comfort index which means that when traders are less comfortable they prefer to ignore their expectations and follow the market performance.
Subjects: 
cryptocurrency
CSAD
herding behavior
JEL: 
G12
G14
G40
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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