Adaptive Market Hypothesis: Evidence From the Cryptocurrency Market

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dc.contributor.authorKaraomer, Yunus
dc.contributor.authorAcaravci, Songul Kakilli
dc.date.accessioned2024-09-18T19:50:22Z
dc.date.available2024-09-18T19:50:22Z
dc.date.issued2023
dc.departmentHatay Mustafa Kemal Üniversitesien_US
dc.description.abstractThis study aimed to evaluate whether the efficiency of the cryptocurrency market varies over time according to the Adaptive Market Hypothesis. It investigated the varying cryptocurrency market efficiency by applying daily historical data to Bitcoin, Ethereum, Litecoin, Ripple, and Cardano. The conformity of cryptocurrencies to the normal distribution was examined by the Jarque-Bera test and their stationarity was tested by unit root tests. The cryptocurrency daily return predictability was measured using the Automatic Portmanteau and Wild Bootstrap Automatic Variance Ratio tests. Besides, the daily returns of cryptocurrencies were analyzed using the 500-days rolling window approach to capture the time-varying nature of the cryptocurrency market efficiency. Findings are consistent with the Adaptive Market Hypothesis and indicate that the cryptocurrency market efficiency varies over time. Besides, the cryptocurrency market efficiency varies and generally corresponds to positive or negative news/events.en_US
dc.identifier.doi10.22059/IJMS.2022.336833.674889
dc.identifier.endpage138en_US
dc.identifier.issn2008-7055
dc.identifier.issn2345-3745
dc.identifier.issue1en_US
dc.identifier.scopus2-s2.0-85146191382en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage125en_US
dc.identifier.urihttps://doi.org/10.22059/IJMS.2022.336833.674889
dc.identifier.urihttps://hdl.handle.net/20.500.12483/7394
dc.identifier.volume16en_US
dc.identifier.wosWOS:000908390400007en_US
dc.identifier.wosqualityQ4en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherUniv Tehranen_US
dc.relation.ispartofIranian Journal of Management Studiesen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectadaptive market hypothesisen_US
dc.subjectcryptocurrencyen_US
dc.subjectefficient market hypothesisen_US
dc.titleAdaptive Market Hypothesis: Evidence From the Cryptocurrency Marketen_US
dc.typeArticleen_US

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