Öz
Bitcoin fiyatlarının bağımlı değişken olarak kabul edildiği bu çalışmada, dünyadaki toplam Coronavirüs vaka sayısı, Ethereum Fiyatları, Altın Fiyatları, Koronavirüs Google Trend Endeksi ve Crypto Money Google Trend Endeksi bağımsız değişkenler olarak analize dahil edilmiştir. 21.01.2020 - 04.04.2020 tarihleri &&arasında günlük veri seti ARDL modeli kullanılarak analiz edilmiştir. Yapılan ARDL analiz sonuçlarına göre bağımsız değişkenler ile Bitcoin fiyatları arasında uzun dönemli ilişkili olduğu tespit edilmiştir. Bulgular çerçevesinde yatırımcıların korkuları Bitcoin fiyatları ve Covid-19 vaka sayıları ile ilişkilendirilerek yorumlanmıştır.
Anahtar Kelimeler
Kaynakça
- Aalborg, H. A., Molnár, P. and de Vries, J. E. 2019 . What can explain the price, volatility and trading volume of Bitcoin?. Finance Research Letters, 29, 255-265.
- Bhuyan, R., Lin, E. C. and Ricci, P. F. 2010 . Asian stock markets and the Severe Acute Respiratory Syndrome SARS epidemic: implications for health risk management. International Journal of Environment and Health, 4 1 , 40-56.
- Corbet, S., Larkin, C. J. and Lucey, B. M. 2020 . The Contagion Effects of the COVID-19 Pandemic: Evidence from Gold and Cryptocurrencies. Available at SSRN 3564443.
- Baur, D. G. and Hoang, L. T. 2020 . A Crypto Safe Haven Against Bitcoin, Finance Research Letters, 101431.
- Feng, W., Wang, Y. and Zhang, Z. 2018 . Informed Trading in the Bitcoin Market. Finance Research Letters, 26, 63-70.
- Jabotinsky, H. Y. and Sarel, R. 2020 . How Crisis Affects Crypto: Coronavirus as a Test Case, Available at SSRN 3557929.
- Koutmos, D. 2018 . Return and Volatility Spillovers Among Cryptocurrencies, Economics Letters, 173, 122–27.
- Kristoufek, L. 2013 . Bitcoin meets Google Trends and Wikipedia: Quantifying the Relationship Between Phenomena of the Internet Era. Scientific Reports, 3, 3415.
- Pesaran, M.H. and Shin, Y. 1995 . Autoregressive Distributed Lag Modelling Approach To Cointegration Analysis. DAE Working Paper Series No 9514. Department of Economics, University of Cambridge.
Öz
This study aims that Bitcoin prices are considered as dependent variables, and the total number of Coronavirus cases in the world, Ethereum Prices, Gold Prices, Coronavirus Google Trend Index, and Crypto Money Google Trend Index are considered as independent variables. Using the ARDL model, it was analyzed with a daily data set between 21.01.2020 - 04.04.2020. It is concluded that the relationship between the variables included in the analysis and Bitcoin prices exists co-integrated in the long term. Within the framework of the findings, investors' fears were interpreted by associating them with Bitcoin and Covid-19.
Anahtar Kelimeler
Kaynakça
- Aalborg, H. A., Molnár, P. and de Vries, J. E. 2019 . What can explain the price, volatility and trading volume of Bitcoin?. Finance Research Letters, 29, 255-265.
- Bhuyan, R., Lin, E. C. and Ricci, P. F. 2010 . Asian stock markets and the Severe Acute Respiratory Syndrome SARS epidemic: implications for health risk management. International Journal of Environment and Health, 4 1 , 40-56.
- Corbet, S., Larkin, C. J. and Lucey, B. M. 2020 . The Contagion Effects of the COVID-19 Pandemic: Evidence from Gold and Cryptocurrencies. Available at SSRN 3564443.
- Baur, D. G. and Hoang, L. T. 2020 . A Crypto Safe Haven Against Bitcoin, Finance Research Letters, 101431.
- Feng, W., Wang, Y. and Zhang, Z. 2018 . Informed Trading in the Bitcoin Market. Finance Research Letters, 26, 63-70.
- Jabotinsky, H. Y. and Sarel, R. 2020 . How Crisis Affects Crypto: Coronavirus as a Test Case, Available at SSRN 3557929.
- Koutmos, D. 2018 . Return and Volatility Spillovers Among Cryptocurrencies, Economics Letters, 173, 122–27.
- Kristoufek, L. 2013 . Bitcoin meets Google Trends and Wikipedia: Quantifying the Relationship Between Phenomena of the Internet Era. Scientific Reports, 3, 3415.
- Pesaran, M.H. and Shin, Y. 1995 . Autoregressive Distributed Lag Modelling Approach To Cointegration Analysis. DAE Working Paper Series No 9514. Department of Economics, University of Cambridge.
Ayrıntılar
| Birincil Dil | İngilizce |
|---|---|
| Yazarlar | |
| Yayımlanma Tarihi | 31 Mart 2021 |
| Yayımlandığı Sayı | Yıl 2021 Sayı: 3 |
ETÜ Sentez İktisadi ve İdari Bilimler Dergisi © 2020, Erzurum Teknik Üniversitesi tarafından Creative Commons Attribution-NonCommercial 4.0 International kapsamında lisanslanmıştır.