Anomaly detection in Bitcoin market via price return analysis.
The Bitcoin market becomes the focus of the economic market since its birth, and it has attracted wide attention from both academia and industry. Due to the absence of regulations in the Bitcoin market, it may be easier to bring some kinds of illegal behaviors. Thus, it raises an interesting questio...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2019-01-01
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| Series: | PLoS ONE |
| Online Access: | https://doi.org/10.1371/journal.pone.0218341 |
| _version_ | 1818725506709716992 |
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| author | Fa-Bin Shi Xiao-Qian Sun Jin-Hua Gao Li Xu Hua-Wei Shen Xue-Qi Cheng |
| author_facet | Fa-Bin Shi Xiao-Qian Sun Jin-Hua Gao Li Xu Hua-Wei Shen Xue-Qi Cheng |
| author_sort | Fa-Bin Shi |
| collection | DOAJ |
| description | The Bitcoin market becomes the focus of the economic market since its birth, and it has attracted wide attention from both academia and industry. Due to the absence of regulations in the Bitcoin market, it may be easier to bring some kinds of illegal behaviors. Thus, it raises an interesting question: Is there abnormity or illegal behavior in Bitcoin platforms? To answer this question, we investigate the abnormity in five leading Bitcoin platforms. By analyzing the financial index, i.e. the normalized logarithmic price return, we find that the properties of price return in bitFlyer are completely different from others. To find the possible reasons, we find that the abnormal ask price and bid price appear simultaneously in bitFlyer, which may be potentially linked to either price manipulation or money laundering. It verifies our conjecture that there may be abnormity or price manipulation in Bitcoin platforms. Furthermore, our findings in price return could also provide an innovative and effective method to detect the abnormity in Bitcoin platforms. |
| first_indexed | 2024-12-17T21:43:24Z |
| format | Article |
| id | doaj.art-f1886445ea164499aa6e7abcf970f8b9 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-12-17T21:43:24Z |
| publishDate | 2019-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-f1886445ea164499aa6e7abcf970f8b92022-12-21T21:31:32ZengPublic Library of Science (PLoS)PLoS ONE1932-62032019-01-01146e021834110.1371/journal.pone.0218341Anomaly detection in Bitcoin market via price return analysis.Fa-Bin ShiXiao-Qian SunJin-Hua GaoLi XuHua-Wei ShenXue-Qi ChengThe Bitcoin market becomes the focus of the economic market since its birth, and it has attracted wide attention from both academia and industry. Due to the absence of regulations in the Bitcoin market, it may be easier to bring some kinds of illegal behaviors. Thus, it raises an interesting question: Is there abnormity or illegal behavior in Bitcoin platforms? To answer this question, we investigate the abnormity in five leading Bitcoin platforms. By analyzing the financial index, i.e. the normalized logarithmic price return, we find that the properties of price return in bitFlyer are completely different from others. To find the possible reasons, we find that the abnormal ask price and bid price appear simultaneously in bitFlyer, which may be potentially linked to either price manipulation or money laundering. It verifies our conjecture that there may be abnormity or price manipulation in Bitcoin platforms. Furthermore, our findings in price return could also provide an innovative and effective method to detect the abnormity in Bitcoin platforms.https://doi.org/10.1371/journal.pone.0218341 |
| spellingShingle | Fa-Bin Shi Xiao-Qian Sun Jin-Hua Gao Li Xu Hua-Wei Shen Xue-Qi Cheng Anomaly detection in Bitcoin market via price return analysis. PLoS ONE |
| title | Anomaly detection in Bitcoin market via price return analysis. |
| title_full | Anomaly detection in Bitcoin market via price return analysis. |
| title_fullStr | Anomaly detection in Bitcoin market via price return analysis. |
| title_full_unstemmed | Anomaly detection in Bitcoin market via price return analysis. |
| title_short | Anomaly detection in Bitcoin market via price return analysis. |
| title_sort | anomaly detection in bitcoin market via price return analysis |
| url | https://doi.org/10.1371/journal.pone.0218341 |
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