Bitcoin price as one of basic cryptocurrencies in relation to the basic stock market's indicators

Abstract

During 2020, factors such as the global pandemic, financial uncertainty and the US election saw an increase in the correlation between bitcoin and gold and the stock market. Both bitcoins and gold rose sharply during 2020, thanks to the relentless press of fiat money by governments and central banks that intend to keep their economies afloat as a result of the coronavirus pandemic. As digital gold, BTC appeals to the cashless Internet economy largely for its features, which include continuous price transparency and a lack of restrictions, disruptions or third-party oversight. The paper focuses on the analysis and identification of the relationship between the value of basic cryptocurrencies and gold price movements, as well as the research hypothesis that the value of the most known and used cryptocurrency bitcoin (BTC) increases with the rising price of gold -a special commodity that serves several functions of the world economy. This issue is currently gaining more and more attention also in context of risk management which is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities and mobile commerce in the aspect of the impact of modern technologies and mobile communication platforms on consumer behavior and consumer preferences. Innovatively, we have made our observations of the price of bitcoin in relation to price fluctuations in the gold markets in order to develop a predictive model for simulating the development of the price of bitcoin. The mathematical model was developed on the basis of statistical analysis of the observed data.

Threats and Opportunities in Digital Transformation in SMEs from the Perspective of Sustainability: A Case Study in the Czech Republic

“…Digitisation affects almost every aspect of our lives, and SMEs have to cope with the opportunities and threats that are connected with it [26,27]. The opportunities and threats that are associated with digital transformation can have positive but also negative impacts on a sustainable world [28].…”

“…Therefore, the improvement of the social aspects of digital transformation is also very important. At present, digitisation affects almost every aspect of our lives [26,27]. For SMEs, this means that there are not only many opportunities, but that there are also a significant number of threats.…”

Identification of Market Volatility With Solid Var Autoregression Validity in Indonesia Cryptocurrencies or Gold

“…Kaczmarek et al (2022) used Recurrant Neural Networks (RNN) to perform market volatility predictions represented by Gated Recurrent Units (GRU), to predict Realized Bipower Variation (RBV). Koraus et al (2021) use Neural Networks and Spearman Correlation to see the relationship between cryptocurrencies and gold. Martyrs et al ( 2022) use a two-dimensional Copula to get an idea of the high-dimensional risk relationship between several assets.…”

“…This is supported by a very high increase in the number of crypto investors in Indonesia, which will reach 12,4 million investors by 2022 (katadata.co.id, 2022). According to Koraus et al (2021), the bitcoin feature is very attractive to investors in the digital economy which has transparent prices and without any intervention from any party. Historically, Bitcoin has had a loose relationship with other assets (Koraus et al, 2021).…”

“…According to Koraus et al (2021), the bitcoin feature is very attractive to investors in the digital economy which has transparent prices and without any intervention from any party. Historically, Bitcoin has had a loose relationship with other assets (Koraus et al, 2021). Many studies want to examine the relationship between cryptocurrencies and several investment options such as stocks, gold, and oil prices to see the pattern of the relationship based on time periods.…”