The article "Herding Behaviour in Cryptocurrencies" by Elie Bouria, Rangan Gupta, and David Roubaud, published in the Financial Research Letters, explores the existence and nature of herding behavior among investors in cryptocurrencies. The authors use data from five major cryptocurrencies and apply different econometric techniques to measure herding and its determinants. Their findings suggest that herding behavior exists in the cryptocurrency market, particularly during bearish market conditions, and is influenced by market volatility, returns, and liquidity. The article concludes by discussing the implications of herding for cryptocurrency investors and regulators.
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