the cryptocurrency market is too volatile, with a daily maximum drawdown of 22%. Hence, it is important for investors to understand the return–risk structure of cryptocurrencies before making an investment com-mitment. In this article, we conjecture that the high volatility of cryptocurrency is driven mainly by investor
https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=6783&context=lkcsb_research

