Bitcoin: its influence on the global World and its relationship with the stock exchange

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Publicado: Aug 1, 2018
DOI: https://doi.org/10.37135/chk.002.05.04
Palabras clave:
bitcoin, commodities, cryptocurrencies, linear correlation, stock exchange indexes

Contenido principal del artículo

Alexandra Piedad Cortez Ordoñez
Universidad Politécnica de Cataluña
Ana Belén Tulcanaza Priet
Kumoh National Institute of Technology

Resumen

The new technological advances have brought a revolution on how economic agents interact with society and markets. Nowadays, the use of virtual currencies is more frequent in the financial transactions and bitcoin has been defined as the most important world cryptocurrency due to its high market capitalization and its technological infrastructure. Several studies have been conducted to discuss bitcoin advantages and disadvantages; however, few papers in literature have examined its connection and influence on the stock market. The objective of this paper is precisely cover this gap. Firstly, by providing tools and concepts to understand bitcoin’s dynamic, and then determining its relationship with stock market indexes. In that context, this manuscript examines the definition and function of bitcoin in the global world and its presence in Ecuador. Besides, exploratory and visual analyses are provided using the evolution of bitcoin and other market indexes. Finally, a linear correlation is computed between bitcoin, other cryptocurrencies, stock exchange indexes and commodities. The results in this study, employing visual and statistical analyses, demonstrated that bitcoin has: a strong relationship with other cryptocurrencies; a lineal correlation, not as strong as the previous one, with the main stock market indexes; and no linear correlation with commodities.

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Detalles del artículo

Cómo citar
Cortez Ordoñez, A. P., & Tulcanaza Priet, A. B. (2018). Bitcoin: its influence on the global World and its relationship with the stock exchange. Chakiñan, Revista De Ciencias Sociales Y Humanidades, 5, 54-72. https://doi.org/10.37135/chk.002.05.04
Número
Núm. 5: Agosto de 2018
Sección
ARTÍCULOS DE INVESTIGACIÓN

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Cómo citar

Cortez Ordoñez, A. P., & Tulcanaza Priet, A. B. (2018). Bitcoin: its influence on the global World and its relationship with the stock exchange. Chakiñan, Revista De Ciencias Sociales Y Humanidades, 5, 54-72. https://doi.org/10.37135/chk.002.05.04

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