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Crypto Currencies in the Framework of Chaos Theory and the Relationship of Crypto Currency with Big Exchanges

Year 2021, Volume 3, Issue 2, 15 - 23, 31.12.2021

Abstract

Technological developments have had an impact on the currency as in every part of our lives. The money market has become more intangible with virtual currencies. Every state and person wants to keep their own money under control. Crypto money, which is the subject of the study, is a sub-type of virtual currency. It is not created by any institution. The discussions about crypto currencies, which have been mentioned frequently in recent years, bring the butterfly effect to our minds by looking at the state it has reached recently. “A butterfly flapping its wings in the Amazon Jungle could cause a storm to break out in the USA”. It is a summary expression of the chaos theory expressed in the form and applied in various ways in almost all kinds of science. So, how will the crypto currencies, which emerged in 2009 and reached a solid place in the market today, will have an impact on the stock market and financial market? In this study, within the framework of Chaos theory, the impact analysis between the large stock market volume and the Bitcoin volume in the 11-month period between 2019-2020 was examined, and then the relationship between them and the world uncertainty index was examined. Has been tried to be analyzed until it has changed.

References

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Year 2021, Volume 3, Issue 2, 15 - 23, 31.12.2021

Abstract

References

  • Alpago, H., 2018. Bitcoinden Selfcoine Kripto Para, Uluslararası Bilimsel Araştırmalar Dergisi, pp: 411-428
  • Bağcı, H., 2020. Kaos Teorisi Kapsamında Covid19'un Finansal Piyasalara Etkisi, İnternetional Balkan University, pp: 1491
  • Baur, D., Lucey, B. (2010). Is Gold a Hedge or a Safe Haven? An Analysis of Stocks, Bonds and Gold. Finance Reviews.
  • Çevik Y. E. and the others, 2016. Bitcoin Piyasasının Likiditesi ve Oynaklığı, Journal of Business Research Turk.
  • Ciaian, P. and the others, 2017. Virtual Relationships: Short and Long Run Evidence from Bitcoin and Altcoin Market, International Financial Market, Institutions & Money.
  • Conlon, T., 2019. Safe Haven or Risky Hazard? Bitcoin During the Covid19 Bear Market, Elsevier.
  • Guesmi, K., Samir, S., Zied, F., 2018. Portfolio Diversification with Virtual Currency Evidence from Bitcoin, International Review of Financial Analysis
  • Gül, Y., 2020. Kripto Paralar ve Portföy Çeşitlendirmesi, Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, pp: 125-141
  • Gültekin, Y. and the others, 2020. Bitcoin Ekosisteminden Doğan Yeni Sektörler ve Analizi, Adnan Menderes Üniversitesi SBE Dergisi, 3, pp:82-92.
  • Guo J., Chow A. Wigand R. T., 2011. Virtual wealth protection through virtual money Exchange, Electronic Commerce Research and Applications.
  • https://www.blockhain.com; Dolaşımdaki Toplam Bitcoin (Date of access:23/12/2020)
  • https://www.ekolar.com, Date of access: 24/12/2020).
  • https://www.policyuncertainty.com/financial_stress.html; Dünya belirsizlik endeksi: (Date of access: 29/12/2020)
  • İç, S., and the others, 2015. Kaos Teorisi Çerçevesinde Bireysel Yatırımcı Davranışı Analizi, 19 Mayıs Üniversitesi IIBF İşletme Bölümü İşletme Bilimi Dergisi, 3(1).
  • Kavas, A., 2019. Finansal Krizlerin Borsa Üzerine Etkisi, SSSjournal, 1489.
  • Kendirli, S., 2006. Portföy Yönetiminde Kaos Teorisi, Journal of Istanbul Kültür University, pp: 171-180.
  • Şahin, E. E., 2018. Kripto Para Bitcoin: Arıma ve Yapay Sinir Ağları İle Fiyat Tahmini, Fiscaoeconomia, pp: 74-92.
  • Salhout, S., 2018. Visionizing a Fiat Crypto currency, Macrothink Institute, 5 (2).
  • Şimşek, H., Ece, E., 2018. Bitcoin ve Finansal Piyasa Aktörleri, Gazi Kitapevi, 1. Baskı, Ankara.
  • Sümer, K. K., 2016. Do Financial Market Exhibit Chaotic Behavior? Evidence from BIST, International Conference on Eurasian Economies, Avecon.
  • Tiwari, A., 2019. Time Varying Dynamic Conditional Correlation between Stock and Cryptocureency Market Using the Copula, Physicia, pp: 2-9.

Details

Primary Language English
Subjects Business Finance
Published Date Fall
Journal Section Articles
Authors

Selcuk KENDİRLİ (Primary Author)
HİTİT ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ, FİNANS VE BANKACILIK BÖLÜMÜ
0000-0001-7381-306X
Türkiye


Fatma Yıldız ŞENOL
HİTİT ÜNİVERSİTESİ, SOSYAL BİLİMLER ENSTİTÜSÜ, MUHASEBE-FİNANS (DR)
0000-0003-3013-5136
Türkiye

Publication Date December 31, 2021
Published in Issue Year 2021, Volume 3, Issue 2

Cite

APA Kendirli, S. & Şenol, F. Y. (2021). Crypto Currencies in the Framework of Chaos Theory and the Relationship of Crypto Currency with Big Exchanges . Quantrade Journal of Complex Systems in Social Sciences , 3 (2) , 15-23 . Retrieved from https://dergipark.org.tr/en/pub/quantrade/issue/67822/987712

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