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Will Cryptocurrency ACTUALLY Replace Fiat Money? (Differences Explained)The hedging capabilities of Bitcoin have been analysed by Dyhrberg (b) against Financial Times Stock Exchange Index and the American dollar. The objective of this paper is to investigate the efficiency of the cryptocurrency market based on a documentary research of Bitcoin in particular, to determine. This paper aims to reveal the asymmetric co-integration relationship and asymmetric causality between Bitcoin and global financial assets, namely gold.