IS THE CRYPTOCURRENCY POLICY UNCERTAINTY A DETERMINANT OF BITCOIN’S PRICE?

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dc.contributor.authorKaraömer, Yunus
dc.date.accessioned2024-09-19T16:23:32Z
dc.date.available2024-09-19T16:23:32Z
dc.date.issued2022
dc.departmentHatay Mustafa Kemal Üniversitesien_US
dc.description.abstractThis study attempts to answer the question: “Is the Cryptocurrency Policy Uncertainty (UCRY Policy) a determinant of the Bitcoin’s price (BTC)?”. Besides, this study uses these factors as explanatory variables for the BTC movements alongside the UCRY Policy and control variables such as the velocity of the Bitcoin in circulation (BC), the computational power of Bitcoin (HR), popularity (PO), and exchange rate (EX). In the study, December 30, 2013- February 21, 2021, was determined as the term and weekly data were investigated. The ARDL bounds testing method was used to determine the relationship between the variables. According to empirical findings, this study suggests that the UCRY Policy is essential to the BTC. There is a negative relationship between UCRY Policy and BTC. When UCRY Policy increases, BTC decreases, holding other variables constant. Besides, this study shows that control variables can be used as determinants of BTC. In long run, BC and HR have a significant, positive relationship with BTC. The EX has a significant, negative relationship with BTC. The PO has a significant, positive relationship with BTC in the short run. In addition, this study demonstrates that UCRY Policy can be used as a type of uncertainty index for Bitcoin.en_US
dc.identifier.doi10.30794/pausbed.1027845
dc.identifier.endpage378en_US
dc.identifier.issn1308-2922
dc.identifier.issn2147-6985
dc.identifier.issue50en_US
dc.identifier.startpage369en_US
dc.identifier.trdizinid1163923en_US
dc.identifier.urihttps://doi.org/10.30794/pausbed.1027845
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1163923
dc.identifier.urihttps://hdl.handle.net/20.500.12483/15947
dc.identifier.volume0en_US
dc.indekslendigikaynakTR-Dizinen_US
dc.language.isoenen_US
dc.relation.ispartofPamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisien_US
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectBitcoinen_US
dc.subjectCryptocurrency Policy Uncertaintyen_US
dc.subjectDeterminants of Bitcoin’s Priceen_US
dc.titleIS THE CRYPTOCURRENCY POLICY UNCERTAINTY A DETERMINANT OF BITCOIN’S PRICE?en_US
dc.typeArticleen_US

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