Master thesis prize of the Hanns-Voith-Stiftung for C. Reisch

Christoph Reisch awarded the master thesis prize of the Hanns-Voith-Stiftung

In June 2018, Christoph Reisch received the prestigious award for the best master thesis in business of the Hanns-Voith-Stiftung for his master thesis “Bitcoin Price Formation: Noise or Information – What drives the Bitcoin Price?”. The highly competitive award includes a prize of EUR 5000.

Based on a comprehensive analysis of bitcoin prices and messages in social media, the thesis highlights the enormous impact of noise trading on the returns and volatility of the cryptocurrency bitcoin. It raises important questions about how easily cryptocurrencies can be manipulated via social media. Christoph Reisch and his advisor Dr. Kai Spohrer attended the award ceremony at the headquarters of the family-owned multinational corporation in mechanical engineering Voith GmbH & Co. KGaA in Heidenheim an der Brenz. Further information and press releases can be found at