{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,12]],"date-time":"2026-06-12T07:05:01Z","timestamp":1781247901552,"version":"3.54.1"},"reference-count":60,"publisher":"MDPI AG","issue":"7","license":[{"start":{"date-parts":[[2019,7,10]],"date-time":"2019-07-10T00:00:00Z","timestamp":1562716800000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Future Internet"],"abstract":"<jats:p>Based on the high-frequency recordings from Kraken, a cryptocurrency exchange and professional trading platform that aims to bring Bitcoin and other cryptocurrencies into the mainstream, the multiscale cross-correlations involving the Bitcoin (BTC), Ethereum (ETH), Euro (EUR) and US dollar (USD) are studied over the period between 1 July 2016 and 31 December 2018. It is shown that the multiscaling characteristics of the exchange rate fluctuations related to the cryptocurrency market approach those of the Forex. This, in particular, applies to the BTC\/ETH exchange rate, whose Hurst exponent by the end of 2018 started approaching the value of 0.5, which is characteristic of the mature world markets. Furthermore, the BTC\/ETH direct exchange rate has already developed multifractality, which manifests itself via broad singularity spectra. A particularly significant result is that the measures applied for detecting cross-correlations between the dynamics of the BTC\/ETH and EUR\/USD exchange rates do not show any noticeable relationships. This could be taken as an indication that the cryptocurrency market has begun decoupling itself from the Forex.<\/jats:p>","DOI":"10.3390\/fi11070154","type":"journal-article","created":{"date-parts":[[2019,7,10]],"date-time":"2019-07-10T11:56:51Z","timestamp":1562759811000},"page":"154","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":64,"title":["Signatures of the Crypto-Currency Market Decoupling from the Forex"],"prefix":"10.3390","volume":"11","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-1613-6175","authenticated-orcid":false,"given":"Stanis\u0142aw","family":"Dro\u017cd\u017c","sequence":"first","affiliation":[{"name":"Complex Systems Theory Department, Institute of Nuclear Physics, Polish Academy of Sciences, ul. Radzikowskiego 152, 31-342 Krak\u00f3w, Poland"},{"name":"Faculty of Physics, Mathematics and Computer Science, Cracow University of Technology, ul. Warszawska 24, 31-155 Krak\u00f3w, Poland"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-2532-1674","authenticated-orcid":false,"given":"Ludovico","family":"Minati","sequence":"additional","affiliation":[{"name":"Complex Systems Theory Department, Institute of Nuclear Physics, Polish Academy of Sciences, ul. Radzikowskiego 152, 31-342 Krak\u00f3w, Poland"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-7582-8767","authenticated-orcid":false,"given":"Pawe\u0142","family":"O\u015bwi\u0229cimka","sequence":"additional","affiliation":[{"name":"Complex Systems Theory Department, Institute of Nuclear Physics, Polish Academy of Sciences, ul. Radzikowskiego 152, 31-342 Krak\u00f3w, Poland"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-5171-3770","authenticated-orcid":false,"given":"Marek","family":"Stanuszek","sequence":"additional","affiliation":[{"name":"Faculty of Physics, Mathematics and Computer Science, Cracow University of Technology, ul. Warszawska 24, 31-155 Krak\u00f3w, Poland"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-2131-7440","authenticated-orcid":false,"given":"Marcin","family":"Wa\u0327torek","sequence":"additional","affiliation":[{"name":"Complex Systems Theory Department, Institute of Nuclear Physics, Polish Academy of Sciences, ul. Radzikowskiego 152, 31-342 Krak\u00f3w, Poland"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"1968","published-online":{"date-parts":[[2019,7,10]]},"reference":[{"key":"ref_1","unstructured":"Satoshi, N. (2019, June 09). 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