The impact of unsystematic factors on Bitcoin value
The results of empirical analyses confirm that analysed unsystematic factors, the Stock-to-Flow index (S2F), and information on the Bitcoin (BTC) are directly correlated with BTC values. These results are expected and in line with the economic theory; however, this research paper aimed to investigat...
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| Veröffentlicht in: | Journal of risk and financial management 2021-11, Vol.14 (11), p.1-17 |
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| creator | Merkaš, Zvonko Roška, Vlasta |
| description | The results of empirical analyses confirm that analysed unsystematic factors, the Stock-to-Flow index (S2F), and information on the Bitcoin (BTC) are directly correlated with BTC values. These results are expected and in line with the economic theory; however, this research paper aimed to investigate the impact of unsystematic factors on the value of decentralised virtual cryptocurrency BTC. Its aim was also to analyse the reasons for significant oscillations of market values in relation to the S2F and S2FX model and thus confirm the reliability of these models in the estimation of BTC value. The research further confirms the strong influence of non-technical information directly linked with the BTC. The limitations of this paper are the lack of possibilities for examining the impact of non-technical information affecting the Bitcoin price deviation regarding the S2F model. In addition to all mentioned limitations, the research results indicate the relevance of the S2F and S2FX models and show a strong impact of (half) the information on the value of cryptocurrencies. |
| doi_str_mv | 10.3390/jrfm14110546 |
| format | Article |
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These results are expected and in line with the economic theory; however, this research paper aimed to investigate the impact of unsystematic factors on the value of decentralised virtual cryptocurrency BTC. Its aim was also to analyse the reasons for significant oscillations of market values in relation to the S2F and S2FX model and thus confirm the reliability of these models in the estimation of BTC value. The research further confirms the strong influence of non-technical information directly linked with the BTC. The limitations of this paper are the lack of possibilities for examining the impact of non-technical information affecting the Bitcoin price deviation regarding the S2F model. In addition to all mentioned limitations, the research results indicate the relevance of the S2F and S2FX models and show a strong impact of (half) the information on the value of cryptocurrencies.</description><identifier>ISSN: 1911-8074</identifier><identifier>ISSN: 1911-8066</identifier><identifier>EISSN: 1911-8074</identifier><identifier>DOI: 10.3390/jrfm14110546</identifier><language>eng</language><publisher>Basel: MDPI</publisher><subject>Banking industry ; Bitcoin (BTC) ; Capital markets ; Coronaviruses ; COVID-19 ; Currency ; Decentralization ; Digital currencies ; Earnings ; Economic conditions ; Economic crisis ; Efficient markets ; Global economy ; Hypotheses ; International finance ; Investments ; Investor behavior ; Pandemics ; Peer to peer computing ; Prices ; Recessions ; Regulation of financial institutions ; S2FX ; Stock exchanges ; Stock prices ; Stock-to-Flow (S2F) ; Trends ; unsystematic factors</subject><ispartof>Journal of risk and financial management, 2021-11, Vol.14 (11), p.1-17</ispartof><rights>2021 by the authors. 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These results are expected and in line with the economic theory; however, this research paper aimed to investigate the impact of unsystematic factors on the value of decentralised virtual cryptocurrency BTC. Its aim was also to analyse the reasons for significant oscillations of market values in relation to the S2F and S2FX model and thus confirm the reliability of these models in the estimation of BTC value. The research further confirms the strong influence of non-technical information directly linked with the BTC. The limitations of this paper are the lack of possibilities for examining the impact of non-technical information affecting the Bitcoin price deviation regarding the S2F model. 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| source | Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals; MDPI - Multidisciplinary Digital Publishing Institute |
| subjects | Banking industry Bitcoin (BTC) Capital markets Coronaviruses COVID-19 Currency Decentralization Digital currencies Earnings Economic conditions Economic crisis Efficient markets Global economy Hypotheses International finance Investments Investor behavior Pandemics Peer to peer computing Prices Recessions Regulation of financial institutions S2FX Stock exchanges Stock prices Stock-to-Flow (S2F) Trends unsystematic factors |
| title | The impact of unsystematic factors on Bitcoin value |
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