Acta Informatica Pragensia 2016, 5(2), 118-137 | DOI: 10.18267/j.aip.8918289

Analysis of Cryptocurrencies Price Development

Jan Lánský
Department of Computer Science and Mathematics, Faculty of Economic Studies, University of Finance and Administration, Estonská 500, 101 00 Prague 10, Czech Republic

Cryptocurrencies are a type of digital currencies based on cryptography principles. Cryptocurrencies are a unique combination of three characteristics: they provide anonymity, they are independent of central authority and they provide protection from double spending attack. The aim of this paper is to capture trends in the area of significant cryptocurrencies price developments and to explain their causes. The current research in this area is exclusively limited to an analysis of the price developments of the most important Bitcoin cryptocurrency; our research is the first to focus on other cryptocurrencies too. The economic perspective on cryptocurrencies is based on IT knowledge regarding the principles of their functioning. We have created a database of prices of 1278 cryptocurrencies from 2013 to 2016. This database is publicly available. To analyse the data, SQL query language was used.

Keywords: Cryptocurrency, Altcoin, SQL, Price development, Price bubble

Received: August 31, 2016; Revised: October 7, 2016; Accepted: October 22, 2016; Published: December 31, 2016  Show citation

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Lánský, J. (2016). Analysis of Cryptocurrencies Price Development. Acta Informatica Pragensia, 5(2), 118-137. doi: 10.18267/j.aip.89
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