cryptocurrency prices are in a “bubble” Phillips, Shi and Yu (2015) (PSY) bubble timestamping algorithm based on a series of augmented Dickey and Fuller (1979) (ADF) unit root test on a time series. Step 2
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examine whether each variable is stationary. The Augmented Dickey-Fuller (ADF) test is used in this study because it is able to test unit roots of the unbalanced panel data. As shown in Table 2, the inverse