Year 2019, Volume 6, Issue 1, Pages 68 - 78 2019-03-30

IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES

Mustafa Ozyesil [1]

87 119

Purpose- The main objective of this study is to examine the mutual interaction between crypto money (coins) types. For this purpose, we investigated the sensitivity existence of any crypto money to changes in other crypto types.

Methodology- In this study, to find out whether the interaction (relationship) exists between cryptocurrencies VAR model will be used through daily closing prices of each crypt money. Under the VAR analysis, variance decomposition, impact-response functions analysis will be done and finally, Granger Causality Test will be performed.

Findings- According to the results of VAR analysis based on Variance Decomposition, BITCOIN, BT CASH and Tether are largely external variables and their prices are not significantly affected by other crypto currencies. In contrast, the values of Etherum, Lite Coin and QTUM are significantly affected by the changes in the values of other crypto coins.

Conclusion- In accordance with findings obtained from analysis, we observed that Tether is moving towards becoming an alternative investment tool for all the crypto moneys. Other crypto coins tend to move in the same direction.

Crypto currency, bitcoin, unit root test, VAR model, variance decomposition, impact-response functions
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Primary Language en
Subjects Management, Humanities, Multidisciplinary, Information Science and Library Science, Social, Behavioral Sciences, Ethics, Industrial Relations and Labor, Education and Educational Research
Journal Section Articles
Authors

Orcid: 0000-0002-4442-7087
Author: Mustafa Ozyesil (Primary Author)

Bibtex @research article { rjbm543965, journal = {Research Journal of Business and Management}, issn = {}, eissn = {2148-6689}, address = {PressAcademia}, year = {2019}, volume = {6}, pages = {68 - 78}, doi = {10.17261/Pressacademia.2019.1022}, title = {IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES}, key = {cite}, author = {Ozyesil, Mustafa} }
APA Ozyesil, M . (2019). IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES. Research Journal of Business and Management, 6 (1), 68-78. DOI: 10.17261/Pressacademia.2019.1022
MLA Ozyesil, M . "IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES". Research Journal of Business and Management 6 (2019): 68-78 <http://dergipark.org.tr/rjbm/issue/44112/543965>
Chicago Ozyesil, M . "IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES". Research Journal of Business and Management 6 (2019): 68-78
RIS TY - JOUR T1 - IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES AU - Mustafa Ozyesil Y1 - 2019 PY - 2019 N1 - doi: 10.17261/Pressacademia.2019.1022 DO - 10.17261/Pressacademia.2019.1022 T2 - Research Journal of Business and Management JF - Journal JO - JOR SP - 68 EP - 78 VL - 6 IS - 1 SN - -2148-6689 M3 - doi: 10.17261/Pressacademia.2019.1022 UR - https://doi.org/10.17261/Pressacademia.2019.1022 Y2 - 2019 ER -
EndNote %0 Research Journal of Business and Management IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES %A Mustafa Ozyesil %T IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES %D 2019 %J Research Journal of Business and Management %P -2148-6689 %V 6 %N 1 %R doi: 10.17261/Pressacademia.2019.1022 %U 10.17261/Pressacademia.2019.1022
ISNAD Ozyesil, Mustafa . "IS BITCOIN BECOMING AN ALTERNATIVE INVESTMENT OPTION FOR TURKEY? A COMPARATIVE ECONOMETRIC INVESTIGATION OF THE INTERACTION BETWEEN CRYPTO CURRENCIES". Research Journal of Business and Management 6 / 1 (March 2019): 68-78. https://doi.org/10.17261/Pressacademia.2019.1022