PT  - JOURNAL ARTICLE
AU  - Mark Schaub
TI  - Outlier Events in Major Cryptocurrency Markets: Is There Evidence of Overreaction?
AID  - 10.3905/jwm.2021.1.155
DP  - 2021 Nov 22
TA  - The Journal of Wealth Management
PG  - jwm.2021.1.155
4099  - https://pm-research.com/content/early/2021/11/22/jwm.2021.1.155.short
4100  - https://pm-research.com/content/early/2021/11/22/jwm.2021.1.155.full
AB  - The three largest cryptocurrencies by market value are examined for overreaction to positive and negative outlier return events. Bitcoin and Ethereum show significant reversals in value following outlier negative events suggesting overreaction. For positive events, significant cumulative gains (not reversals) followed outlier positive events for Ethereum and Tether showed a significant reversal in value after the positive events. Evidence is, therefore, mixed among the three main cryptocurrencies when it comes to how revaluations occur after outlier positive events.