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Kripto para birimlerinin Bitcoin ile etkileşiminin incelenmesi: Toda-Yamamoto nedensellik testi

Examining the interaction of cryptocurrencies with Bitcoin: Toda-Yamamoto causality test
Authors: YILMAZ ÖZEKENCİ, Süreyya;

Kripto para birimlerinin Bitcoin ile etkileşiminin incelenmesi: Toda-Yamamoto nedensellik testi

Abstract

Bu çalışmanın amacı, kripto para birimleri arasında piyasa değeri en yüksek olan Bitcoin ile diğer piyasa değeri en yüksek olan kripto para birimleri arasındaki fiyat hareketliliğinin incelenmesi ve birbirleriyle olan etkileşimin yönünün tespit edilmesidir. Ancak çalışmada piyasa değeri en yüksek olan 20 kripto para biriminden sadece 8 tanesinin verisine ulaşılabilmiştir. Verisine ulaşılabilen Bitcoin, Ethereum, Tether, BNB, XRP, Dogecoin, Tron, Ethereum Classic kripto paralarına ait 12.09.2017-01.09.2022 dönemini kapsayan 1815 adet veri Toda-Yamamoto nedensellik testi kullanılarak analiz edilmiştir. Yapılan analizler sonucunda, Bitcoin-Dogecoin, Bitcoin-Ethereum Classic, Bitcoin-Ethereum, Bitcoin -BNB, Bitcoin-Ripple, Bitcoin-Tron değişkenlerinin arasında çift yönlü bir nedensellik ilişki olduğu ancak Tether’den Bitcoin’e doğru tek yönlü bir nedensellik ilişkisi olduğu anlaşılmaktadır.

The purpose of this study is to analyze the price movements between Bitcoin, the cryptocurrency with the largest market value, and other high-market-value cryptocurrencies in order to determine how they interact with one another. However, only 8 of the 20 alternative cryptocurrencies with the biggest market value could be accessible during the study. The Toda-Yamamoto causality test was used to examine 1815 data from the accessible cryptocurrency datasets for Bitcoin, Ethereum, Tether, BNB, XRP, Dogecoin, Tron, and Ethereum Classic, which cover the time period 12.09.2017–01.09.2022. The analysis has revealed that there is a one-way causality relationship between USDT and BTC, however a two-way causality relationship exists between BTC-DOGE, BTC-ETC, BTC-ETH, BTC-BNB, and BTC-TRX variables.

Country
Turkey
Keywords

Cryptocurrency, Financial Economy, Bitcoin;Cryptocurrency;Toda-Yamamoto Causality Test, İktisat, Finansal Ekonomi, Toda-Yamamoto Causality Test, İşletme, Toda-Yamamoto Nedensellik Testi, kripto paralar, İşletme Finans, Kripto Paralar, Bitcoin;kripto paralar;Toda-Yamamoto Nedensellik Testi, Bitcoin

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
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