Four Essays on Bitcoin and Stablecoins

Lai Hoang

Research output: ThesisDoctoral Thesis

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Abstract

This thesis examines the determinants of Bitcoin prices and the relation between the highly volatile Bitcoin and a new, less volatile class of cryptocurrencies - stablecoins. The first chapter documents the informational role of the options market in forecasting Bitcoin volatility. The second chapter shows that movements of Bitcoin between investors' private wallets and exchange accounts on the blockchain are able to predict future Bitcoin returns and volatility. The third and the fourth chapters explore the safe haven property of stablecoins against Bitcoin, and show that stablecoins are not as stable as their names suggest.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • The University of Western Australia
Supervisors/Advisors
  • Baur, Dirk, Supervisor
  • Yang, Joey, Supervisor
Thesis sponsors
Award date10 Aug 2022
DOIs
Publication statusUnpublished - 2022

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