Bridging the Gap: A Bibliometric Review of Cryptocurrency and Conventional Market Interactions in Academic Research

Ahmad Harith Ashrofie Hanafi, Mohd Shahid Azim Mohd Saufi, Muhammad Zarunnaim Haji Wahab, Suheil Che Sobry and Mohd Hilal Muhammad
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Ahmad Harith Ashrofie Hanafi: Faculty of Business and Management, Universiti Teknology MARA (UiTM), Cawangan Kedah, Malaysia.
Mohd Shahid Azim Mohd Saufi: Faculty of Business and Management, Universiti Teknology MARA (UiTM), Cawangan Kedah, Malaysia.
Muhammad Zarunnaim Haji Wahab: Faculty of Business and Management, Universiti Teknology MARA (UiTM), Cawangan Kedah, Malaysia.
Suheil Che Sobry: Faculty of Business and Management, Universiti Teknology MARA (UiTM), Cawangan Kedah, Malaysia.
Mohd Hilal Muhammad: Faculty of Computer Science, Universiti Teknology MARA (UiTM), Cawangan Kedah, Malaysia.

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 9, 1114-1131

Abstract: This bibliometric analysis comprehensively reviews the burgeoning literature on cryptocurrencies within conventional financial markets. Utilizing the Scopus database, co-citation analysis maps the intellectual structure into five major clusters: hedging/risk management, Bitcoin, price volatility, cryptocurrency theories, and prediction/speculation. Seminal publications examining the link between cryptocurrencies and traditional assets, portfolio applications, blockchain accounting, and price forecasting models are highlighted in citation analysis. Future research directions, such as improved analytical methods, interconnections between commodities markets and regular currency markets, volatility dynamics, and blockchain breakthroughs, are predicted by co-occurance analysis. Fintech companies, investors, and regulators are guided in navigating this disruptive domain by management insights, while theoretical implications provide a coherent overview covering important subjects. Despite being restricted to journal articles and the SCOPUS database, this study offers a comprehensive academic path. The implications of this study are critical for practitioners, policymakers, and academics, emphasizing the need for comprehensive frameworks, clear regulations, and interdisciplinary research to navigate the complexities of this evolving financial landscape. Future directions could include investigating different cryptocurrency options, the effects of regulations, technical advancements, and interdisciplinary partnerships. With thorough research, this organized study provides a useful roadmap for navigating the opportunities and pitfalls that lie ahead as cryptocurrencies acquire popularity among the general public.

Date: 2024
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