CEE Fund Member Mark Presents at the Academy of Business Research Conference in New Orleans

Cryptocurrency or more specifically Bitcoin has burst on the scene as an entirely new asset class and it has caught the attention of the investment world. Blockchain, the new emerging technology behind these currencies have been widely praised and embraced by the financial world and it is undoubtedly here to stay. The currencies themselves have generated much larger controversies, with very strong opinions for and against it. In December of 2017 the price of Bitcoin reached an all time high of $19,783.21 and the cryptocurrency market capitalization was over $800 billion. Today, Bitcoin is trading under $4000 and the cryptocurrency market has lost over $550 billion in market capitalization. In this paper, we examine the history of cryptocurrencies and explain how it derives its value and its different trading options. We explain in detail its underlying technology and also research various bstacles staring at it, including the legal hurdles that it faces. Our paper shows the future prospects of these currencies. We research the correlation of the price with usage and adoption. We also provide investment strategies on this new asset class and how to gain from it.