BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXES
The concept of blockchain and cryptocurrencies is one of the most popular concepts of recent years. Cryptocurrencies were first introduces with Bitcoin in 2008 and now they have an increasing variety and popularity. Recent developments in technology firms have brought into question whether there is...
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Mehmet Akif Ersoy University
2022-11-01
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| Series: | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
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| Online Access: | https://dergipark.org.tr/en/download/article-file/2348859 |
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| _version_ | 1832584486574882816 |
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| author | Mehmet Levent Erdaş Gamze Göçmen Yağcılar |
| author_facet | Mehmet Levent Erdaş Gamze Göçmen Yağcılar |
| author_sort | Mehmet Levent Erdaş |
| collection | DOAJ |
| description | The concept of blockchain and cryptocurrencies is one of the most popular concepts of recent years. Cryptocurrencies were first introduces with Bitcoin in 2008 and now they have an increasing variety and popularity. Recent developments in technology firms have brought into question whether there is a relationship between Bitcoin and technology indexes. To this end, this study investigates the causality relationship between Bitcoin and technology indexes using monthly data between the years 2016 and 2021 in G7 and E7 countries. To test the causality relationship between the variables, the Hatemi-J (2012) asymmetric causality test was used. Hatemi-J (2012) test reveals that the relationship between bitcoin and technology indexes becomes different for G7 and E7 countries. The results suggest that developed countries affect bitcoin prices while developing countries are affected by Bitcoin prices. The conclusion is that findings point out the existence of an asymmetric relationship between the series for G7 and E7 countries. |
| format | Article |
| id | doaj-art-dd8c0a6accd4421c961ebad2e0effa36 |
| institution | Kabale University |
| issn | 2149-1658 |
| language | English |
| publishDate | 2022-11-01 |
| publisher | Mehmet Akif Ersoy University |
| record_format | Article |
| series | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
| spelling | doaj-art-dd8c0a6accd4421c961ebad2e0effa362025-01-27T13:59:22ZengMehmet Akif Ersoy UniversityMehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi2149-16582022-11-01932097212010.30798/makuiibf.1097491273BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXESMehmet Levent Erdaş0https://orcid.org/0000-0001-6594-4262Gamze Göçmen Yağcılar1https://orcid.org/0000-0002-5009-4696AKDENİZ ÜNİVERSİTESİ, SERİK İŞLETME FAKÜLTESİ, EKONOMİ VE FİNANS BÖLÜMÜSÜLEYMAN DEMİREL ÜNİVERSİTESİ, İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ, BANKACILIK VE FİNANS BÖLÜMÜThe concept of blockchain and cryptocurrencies is one of the most popular concepts of recent years. Cryptocurrencies were first introduces with Bitcoin in 2008 and now they have an increasing variety and popularity. Recent developments in technology firms have brought into question whether there is a relationship between Bitcoin and technology indexes. To this end, this study investigates the causality relationship between Bitcoin and technology indexes using monthly data between the years 2016 and 2021 in G7 and E7 countries. To test the causality relationship between the variables, the Hatemi-J (2012) asymmetric causality test was used. Hatemi-J (2012) test reveals that the relationship between bitcoin and technology indexes becomes different for G7 and E7 countries. The results suggest that developed countries affect bitcoin prices while developing countries are affected by Bitcoin prices. The conclusion is that findings point out the existence of an asymmetric relationship between the series for G7 and E7 countries.https://dergipark.org.tr/en/download/article-file/2348859kripto paralarbitcointeknoloji hisselericryptocurrenciesbitcointechnology equities |
| spellingShingle | Mehmet Levent Erdaş Gamze Göçmen Yağcılar BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXES Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi kripto paralar bitcoin teknoloji hisseleri cryptocurrencies bitcoin technology equities |
| title | BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXES |
| title_full | BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXES |
| title_fullStr | BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXES |
| title_full_unstemmed | BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXES |
| title_short | BITCOIN AS AN INVESTMENT VEHICLE: THE ASYMMETRIC RELATIONSHIPS BETWEEN BITCOIN AND GLOBAL TECHNOLOGY INDEXES |
| title_sort | bitcoin as an investment vehicle the asymmetric relationships between bitcoin and global technology indexes |
| topic | kripto paralar bitcoin teknoloji hisseleri cryptocurrencies bitcoin technology equities |
| url | https://dergipark.org.tr/en/download/article-file/2348859 |
| work_keys_str_mv | AT mehmetleventerdas bitcoinasaninvestmentvehicletheasymmetricrelationshipsbetweenbitcoinandglobaltechnologyindexes AT gamzegocmenyagcılar bitcoinasaninvestmentvehicletheasymmetricrelationshipsbetweenbitcoinandglobaltechnologyindexes |