Design
Rolling-window tests of linear and nonlinear dependence.
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Cycles and regimes · descriptive
Khuntia and Pattanayak report that linear and nonlinear return dependence changes across rolling Bitcoin samples, consistent with time-varying market efficiency.
Khuntia and Pattanayak report that linear and nonlinear return dependence changes across rolling Bitcoin samples, consistent with time-varying market efficiency.
The paper supports time variation, while the exact efficient or inefficient periods depend on tests, windows, data, and later samples.
The paper reports that Bitcoin market efficiency evolves through time rather than remaining fixed.
This claim record depends on a reported relationship or method, not a single headline number. No summary metric is manufactured.
Rolling-window tests of linear and nonlinear dependence.
Bitcoin returns and statistical return-dependence measures.
A detected dependence statistic does not by itself define a cost-aware trading rule.
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Sashikanta Khuntia, J. K. Pattanayak · Economics Letters · 2018
Version of record reviewed.
Cycle Clock gives current dated context but does not score market efficiency.
Reviewed 2026-07-13; next review 2026-10-13. The paper record is not a recommendation, forecast, or proof of current profitability. Information, not financial advice.