Özellikle son bir kaç yılda dünyada popülaritesi giderek artan ve kripto paraları içerisinde bulunduran kripto para piyasası gerek uluslararası gerekse ulusal yazının ilgi odağı olmaktadır. Kripto paralar, uluslararası ödemeleri anında, gizliliği yüksek ve kolay bir şekilde kendi para birimleri üzerinden gerçekleştirme imkânı sunar. Bu araştırmanın amacı kripto paralardan olan Bitcoin, Ethereum ve Ripple arasında kısa ve uzun dönemli ilişki olup olmadığını tespit etmektir. Kripto paraların kendi içinde birbirini etkileyip etkilemediği tespit edilmeye çalışılmıştır. Araştırmada 01.01.2018-31.12.2018 yılı arasında Bitcoin, Ethereum ve Ripple kripto paraların kapanış fiyatları kullanılmıştır. Bağımlı değişken olarak Bitcoin belirlenirken, Ethereum ve Ripple bağımsız değişken olarak belirlenmiştir. Seçilen zaman aralığı içinde yer alan veriler günlük olarak ele alınarak zaman serisi oluşturulmuştur. Seçilen üç kripto paraların verilerine önce birim kök testi uygulanmıştır. Seriler birinci derece farklarında durağan hale gelmiştir. Ardından modelin gecikme uzunluğu sekiz bulunmuştur ve Johansen Eşbütünleşme testi yapılmıştır. Vektör hata düzeltme modeli ile de kripto paralar arasındaki ilişki detaylı biçimde incelenmiş ve sonuçta Bitcoin, Ethereum ve Ripple kripto paraları arasında kısa dönem ilişki tespit edilmiştir.
Specifically in the last few years the world’s popularity has increased and the cryptocurrency market has become the focus of interest of both international and national literature. Cryptocurrencies offer the possibility to make international payments instantly, high and easily through their currencies. The aim of this research is to determine whether there is a short-term and long-term relationship between Bitcoin, Ethereum and Ripple, cryptocurrencies. It has been tried to find out whether Cryptocurrencies affect each other within themselves. The study used the closing prices of Bitcoin, Ethereum and Ripple cryptocurrencies between 01.01.2018 and 31.12.2018. While Bitcoin is determined as dependent variable, Ethereum and Ripple are determined as independent variables. The data within the selected time range is created a time series by processing the data daily. Before the data of the three chosen cryptocurrencies, the unit root test was applied. The series became stable in the first degree differences. Then the model was found with a delay length of eight and the Johansen Integration test was done. The relationship between the vector error correction model and cryptocurrencies was also detailed and the short-term relationship between Bitcoin, Ethereum and Ripple cryptocurrencies was found.
Especially in the last few years, the crypto money market, which has become increasingly popular in the world and has crypto coins such as Bitcoin, Ethereum and Ripple, has become the focus of attention both in international and national literature. Crypto coins offer the ability to make international payments instantly, in a highly confidential and easy manner, in their own currency. The aim of this study is to determine whether there is a short and long term relationship between the crypto coins Bitcoin, Ethereum and Ripple. It has been tried to determine whether the crypto coins affect each other. The closing prices of Bitcoin, Ethereum and Ripple crypto coins were used in the study between 01.01.2018-31.12.2018. While Bitcoin was determined as dependent variable, Ethereum and Ripple were determined as independent variables. The data series within the selected time period were handled on a daily basis and the time series was created. The unit root test was applied to the data of the selected 3 crypto coins. The series became stationary in the first degree differences. The lag length of the model was 8 and the Johansen cointegration test was performed. 1 cointegrated vector was found. The relationship between the vector error correction model and the crypto coins was examined in detail and a short-term relationship was found between the Bitcoin, Ethereum and Ripple crypto coins.
Alan : Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Ulusal
Benzer Makaleler | Yazar | # |
---|
Makale | Yazar | # |
---|