0583790 20240402215316.120240307235959.9 85139314000 000899861500010 10.1016/j.frl.2022.103353 6 s. P cav_un_epca*03619971544-612351Elsevier Cryptocurrencies Cryptoassets Bitcoin Volatility Store of value cav_un_auth*0256902 Krištoufek Ladislav UTIA-B Ekonometrie Department of Econometrics E E Department of Econometrics CZ 100 Ústav teorie informace a automatizace AV ČR, v. v. i. http://library.utia.cas.cz/separaty/2024/E/kristoufek-0583790.pdf https://www.sciencedirect.com/science/article/pii/S1544612322005311?via%3Dihub GA20-17295S GA ČR cav_un_auth*0397556 We examine the drivers of Bitcoin volatility and discuss possible future developments, specifically what conditions need to be met for the volatility to decrease. Our instrumental variables analysis implies there needs to be a considerable inflow of small users into the system who are ideally not exchange traders and they do perform small transfers. Increasing exchange volume, on-chain transfers value, and Bitcoin price by themselves increase volatility of the cryptoasset. WOS AH 50000 50200 50206 2024 1 RVO:67985556 https://hdl.handle.net/11104/0352150 S 103353 Article Business Finance C BUSINESS.FINANCE 7.6 1.4 2.3 0.02244 1.202 20679 123 1.903 26.75 8.45 15200 Q1 6.400 1236 Q1 97.2 Q2 Q1 2.72 Q1 97.2 2023 85139314000 SCOPUS PUBMED 000899861500010 WOS cav_un_epca*0361997 Finance Research Letters 1544-6123 1544-6131 Roč. 51 č. 1 2023 Elsevier PRINT