International Journal of Research in Finance and Management
2022, Vol. 5, Issue 1
Determinants to be considered while investing in cryptocurrency markets: A case of bitcoin
Surabhi and Satish K Mittal
When Bitcoin became one of the world's most popular investment options, the cryptocurrency industry has showed potential development, and it had a similar influence on the Indian financial sector too. Aside from Bitcoin, other altcoins are gaining popularity and dominating the cryptocurrency market. As a result, the goal of this research is to identify at the macroeconomic factors that influence Bitcoin prices, such as the USD/INR exchange rate, gold prices, crude oil prices, the New York Stock Exchange Dow Jones (NYSE) price, NIFTY price, and Sensex price, as well as the prices of nine alternative cryptocurrencies in the cryptocurrency market: Binance coin, Bitcoin Cash, Bitcoin SV, Ether, Ethereum, Litecoin, Monero, Tether, and ripple. Bitcoin volume and market capitalization are additional factors, undertaken in the study, that are potential influencers of cryptocurrency pricing. The time series data, which comprises of bi-weekly data for all variables, will be used from 2015 to 2020. The OLS (ordinary least square) regression model in EVIEWS will be used in this study to conduct an empirical analysis.