Article
Determining the Foreign Currencies Affecting the Bitcoin.
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Abstract
In the present paper, the Granger causality test is used to study the causality relationships between Bitcoin and some of the most highly traded currencies, including euro, Japanese yen, British pound, Chinese yuan, and Indian rupee. To this purpose, the daily exchange rates of Bitcoin and the selected currencies to USD between 2014 and 2018 were used. Different from findings in existing literature, our study shows that there are no Granger causalities between Bitcoin and Euro, Japanese yen, British pound, and Indian rupee. A Granger causality is found in the direction from the Chinese yuan to Bitcoin.
Keywords
Electronic Money, Cryptocurrency, Bitcoin, Exchange Rate, Time Series Analysis, Granger Causality, 62, 91
Citation
Ozaltun, G. C., Ege, I., Topaloglu, E. E., Huang, C. H., & Urkmez, T. (2023). Determining the foreign currencies affecting the bitcoin. Applied Mathematics and Nonlinear Sciences, 8(2). https://doi.org/10.2478/amns.2023.2.01139
G. C. Ozaltun, I. Ege, E. E. Topaloglu, C. H. Huang and T. Urkmez, “Determining the foreign currencies affecting the bitcoin,” Applied Mathematics and Nonlinear Sciences, vol. 8, no. 2, 2023, doi: 10.2478/amns.2023.2.01139.
Ozaltun GC, Ege I, Topaloglu EE, Huang CH, Urkmez T. Determining the foreign currencies affecting the bitcoin. Applied Mathematics and Nonlinear Sciences. 2023;8(2). doi:10.2478/amns.2023.2.01139.
Ozaltun, G. C., Ege, I., Topaloglu, E. E., Huang, C. H. and Urkmez, T. (2023), ‘Determining the foreign currencies affecting the bitcoin’, Applied Mathematics and Nonlinear Sciences, 8(2). Available at: https://doi.org/10.2478/amns.2023.2.01139.
Ozaltun, Gul Cennet, et al. “Determining the Foreign Currencies Affecting the Bitcoin.” Applied Mathematics and Nonlinear Sciences, vol. 8, no. 2, 2023. https://doi.org/10.2478/amns.2023.2.01139.
Ozaltun, Gul Cennet, Ilhan Ege, Emre Esat Topaloglu, Chia Hsing Huang, and Taylan Urkmez. “Determining the Foreign Currencies Affecting the Bitcoin.” Applied Mathematics and Nonlinear Sciences 8, no. 2 (2023). https://doi.org/10.2478/amns.2023.2.01139.
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- DOI: 10.2478/amns.2023.2.01139
- Type: article
- Source: Applied Mathematics and Nonlinear Sciences
- Published: 2023-07-01
- OpenAlex ID: W4388526844
Published by: Engineering Journals
