Financial Analysis of Cryptocurrencies in Relation to Standard Financial Instruments

Domagoj Sajter

Chapter 12 in Financije teorija i suvremena pitanja = Finance - theory and contemporary issues, 2018, vol. 1, pp 277-301 from Josip Juraj Strossmayer University of Osijek, Faculty of Economics

Abstract: Cryptocurrencies are relatively new area in the field of finance which require additional attention of academic community. They offer a model of money that is decentralized, non-institutional, completely digital, safe, at the same time both transparent and potentially anonymous, and backed by electricity. The purpose of this paper is to scrutinise cryptocurrencies with standard financial tools, and to observe interconnectedness of price movements of the largest cryptocurrencies among themselves, but also regarding two global financial indexes, EUR/USD currency pair, and two commodities: oil (WTI) and gold. The literature in this field is examined, and a brief review of papers is presented. The hypothesis of unrelated price movements between cryptocurrencies and standard financial instruments was confirmed by descriptive statistics and correlations matrix.

Keywords: cryptocurrencies; cryptoeconomy; bitcoin; ethereum; blockchain (search for similar items in EconPapers)
JEL-codes: G15 G23 G29 O33 (search for similar items in EconPapers)
Date: 2018
ISBN: 978-953-253-150-3
References: Add references at CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:osi:chaptr:18-12

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