ANALYSIS OF IRRATIONAL INVESTOR BEHAVIORS OF INDIVIDUAL INVESTORS TRADING İN CRYPTO CURRENCY MARKET

Year 2024, Volume: 25 Issue: 1, 1 - 23, 25.03.2024

Salih Aydın

https://doi.org/10.53443/anadoluibfd.1101865

Cited By: 1

Abstract

Cryptocurrencies are currencies that have attracted the attention of investors in recent years. Investors' interest in cryptocurrencies has paved the way for these coins to have a place in the financial system. As in other markets, individual investors who trade in the cryptocurrency market are likely to exhibit some irrational investor behavior. In this study, the irrational investor behaviors of individual investors trading in the crypto money market were analyzed. The questionnaire form prepared in this context was delivered to investors who buy and sell cryptocurrencies individually with the snowball sampling method, and a total of 158 investors returned. The questionnaire form used in the study consists of two parts. In the first part, questions to determine the demographic and investor profiles of the investors were included. In the second part, questions to measure the irrational investment behavior of investors were asked to the investors. In the study, a statistically significant difference was obtained in the responses of individual investors to heuristic factors according to their age, occupation, frequency of trading and the rate of capital allocation for their investments. At the same time, in the study, differences in investment decisions were determined according to the frequency of trading, risk levels, capital allocation rates and investment durations of individual investors.

Keywords

Behavioral Finance, Cryptocurrency, Investor Behavior, Individual Investor

KRİPTO PARA PİYASASINDA İŞLEM YAPAN BİREYSEL YATIRIMCILARIN İRRASYONEL YATIRIMCI DAVRANIŞLARININ ANALİZİ

Abstract

Kripto paralar son yıllarda yatırımcıların ilgisini çeken para birimleridir. Yatırımcıların kripto paralara olan ilgisi bu paraların finansal sistemde yer edinmesinin önünü açmıştır. Diğer piyasalarda olduğu gibi kripto para piyasasında da işlem yapan bireysel yatırımcıların bir takım irrasyonel yatırımcı davranışı sergilemesi muhtemeldir. Bu çalışmada kripto para piyasasında işlem yapan bireysel yatırımcıların sergiledikleri irrasyonel yatırımcı davranışları analiz edilmiştir. Bu kapsamda hazırlanan anket formu kartopu örneklem yöntemi ile bireysel anlamda kripto para alım-satımı yapan yatırımcılara ulaştırılmış ve toplam 158 yatırımcı geri dönüş yapmıştır. Çalışmada kullanılan anket formu iki kısımdan oluşmaktadır. Birinci kısımda yatırımcıların demografik ve yatırımcı profillerini tespit etmeye yönelik sorulara yer verilmiştir. İkinci bölümde ise yatırımcıların irrasyonel yatırım davranışlarını ölçmeye yarayan sorular yatırımcılara sorulmuştur. Çalışmada, bireysel yatırımcıların yaşlarına, mesleklerine, işlem yapma sıklıklarına ve yatırımlarına sermaye ayırma oranlarına göre sezgisel faktörlere verdikleri cevaplarda istatistiksel anlamda farklılık elde edilmiştir. Aynı zamanda çalışmada, bireysel yatırımcıların işlem yapma sıklıklarına, risk seviyelerine, yatırımlarına sermaye ayırma oranlarına ve yatırım sürelerine göre yatırım kararlarında farklılıklar tespit edilmiştir.

Keywords

Davranışsal Finans, Kripto Para, Yatırımcı Davranışı, Bireysel Yatırımcı

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