Abstract:

The aim of this study is to explore the price relationship between cryptocurrencies. Technological developments bring great changes in all areas of life. All innovative products and services, produced in accordance with the needs of the time, providing people with speed and facility, are reacting and rapidly spread in society. Cryptocurrencies are also becoming a trading financial tool, which is becoming more and more known by people every day. Cryptocurrencies, which are questionable about whether or not there will be a future, today have become an investment tool that attracts the interest of investors from many countries. The official authorities also continue to work on the legal infrastructure on the trade in cryptocurrencies and related derivatives. Investing in this work. According to com, the volume of transactions has been reviewed using the daily closing prices of 5 cryptocurrencies (bitcoin, ethereum, ripple, bitcoin cash, litecoin) determined between 18.01.2018 and 24.12.2019. The method of using Toda-Yamamoto causality test, the relationship between cryptocurrencies was studied. The findings of the study show that all the other cryptocurrencies included in the analysis affect the price of litecoin, that ethereum affects all cryptocurrencies, and that the 5 cryptocurrencies studied are in causality relationship with the two cryptocurrencies.

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