Abstract：The adaptive market hypothesis holds that financial markets are like an ecological circle. Individuals may make mistakes and continue to learn and adapt the market. The market has the characteristics of dynamic. In the absence of quantitative research in the adaptive market hypothesis test， this paper tests the adaptive market hypothesis in the Bitcoin market from the perspective of dynamic market efficiency. By utilizing the complex entropy plane to measure market efficiency， the conclusions show that the effective index of the Bitcoin market is changing constantly. The conclusions support the adaptive market hypothesis. Secondly， this paper utilizes the vector error correction model to predict the price of Bitcoin. The resulting prediction model predicts Bitcoin prices over a small margin of error.
杨 璇,郭思培. 适应性市场假说在比特币市场上的检验[J]. 华中师范大学学报(自然科学版), 2019, 53(6): 864-870.
YANG Xuan,GUO Sipei. The test of the adaptive market hypothesis in the bitcoin market. journal1, 2019, 53(6): 864-870.
2019, Vol. 53 
