Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market?
The authors test the weak-form efficiency in cryptocurrency markets using the most recent and comprehensive data as of 2021. The authors apply various technical indicators to take a long or short position on 99 cryptocurrencies and compare the 10-day returns based on the technical trading strategies...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Emerald Publishing
2024-03-01
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| Series: | Seonmul yeongu |
| Subjects: | |
| Online Access: | https://www.emerald.com/insight/content/doi/10.1108/JDQS-08-2023-0021/full/pdf |
| _version_ | 1827320851604701184 |
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| author | JunHyeong Jin JiHoon Jung Kyojik Song |
| author_facet | JunHyeong Jin JiHoon Jung Kyojik Song |
| author_sort | JunHyeong Jin |
| collection | DOAJ |
| description | The authors test the weak-form efficiency in cryptocurrency markets using the most recent and comprehensive data as of 2021. The authors apply various technical indicators to take a long or short position on 99 cryptocurrencies and compare the 10-day returns based on the technical trading strategies to the simple buy-and-hold returns. The authors find that the trading strategies based on single indicators or the combination of two indicators do not generate higher returns than buy-and-hold returns among cryptos. These findings suggest that cryptocurrency markets are weak-form efficient in general. |
| first_indexed | 2024-04-25T00:53:14Z |
| format | Article |
| id | doaj.art-cbf3d89bf4804e5c8ca460ea262e9405 |
| institution | Directory Open Access Journal |
| issn | 1229-988X 2713-6647 |
| language | English |
| last_indexed | 2024-04-25T00:53:14Z |
| publishDate | 2024-03-01 |
| publisher | Emerald Publishing |
| record_format | Article |
| series | Seonmul yeongu |
| spelling | doaj.art-cbf3d89bf4804e5c8ca460ea262e94052024-03-11T15:20:29ZengEmerald PublishingSeonmul yeongu1229-988X2713-66472024-03-01321233510.1108/JDQS-08-2023-0021Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market?JunHyeong Jin0JiHoon Jung1Kyojik Song2Department of Fintech, Sungkyunkwan University, Seoul, South KoreaDepartment of Fintech, Sungkyunkwan University, Seoul, South KoreaDepartment of Fintech, Sungkyunkwan University, Seoul, South KoreaThe authors test the weak-form efficiency in cryptocurrency markets using the most recent and comprehensive data as of 2021. The authors apply various technical indicators to take a long or short position on 99 cryptocurrencies and compare the 10-day returns based on the technical trading strategies to the simple buy-and-hold returns. The authors find that the trading strategies based on single indicators or the combination of two indicators do not generate higher returns than buy-and-hold returns among cryptos. These findings suggest that cryptocurrency markets are weak-form efficient in general.https://www.emerald.com/insight/content/doi/10.1108/JDQS-08-2023-0021/full/pdfMarket efficiencyCryptocurrencyTechnical analysisBitcoinTrading indicator |
| spellingShingle | JunHyeong Jin JiHoon Jung Kyojik Song Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market? Seonmul yeongu Market efficiency Cryptocurrency Technical analysis Bitcoin Trading indicator |
| title | Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market? |
| title_full | Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market? |
| title_fullStr | Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market? |
| title_full_unstemmed | Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market? |
| title_short | Do technical trading rules outperform the simple buy-and-hold strategy in the cryptocurrency market? |
| title_sort | do technical trading rules outperform the simple buy and hold strategy in the cryptocurrency market |
| topic | Market efficiency Cryptocurrency Technical analysis Bitcoin Trading indicator |
| url | https://www.emerald.com/insight/content/doi/10.1108/JDQS-08-2023-0021/full/pdf |
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