Media Effect on Cryptocurrency Popularity and Pricing

Abstract

The primary intention behind this study is to assess and compare current studies, aggregate datasets and information from already existing investigations and add own datasets for explaining some effects of popularity and pricing of cryptocurrency on Bitcoin and Ethereum examples. The advantages and disadvantages of using cryptocurrency at the present stage of economic development of Ukraine are considered. The results of the research of the awareness of market participants regarding the disadvantages and advantages of cryptocurrency and the presence of interest in the usage of cryptocurrency in range period from beginning to now are given. The aim of this article is to study the possibilities of using cryptocurrency for economic development. The object of the research is the process of using cryptocurrency in the markets of Ukraine and the whole world. The results of a study of the demand for cryptocurrency in Ukraine. The research was conducted with the result of a questionnaire which were taken from previous investigation and compared with own datasets, and as a result of which it was found out: the level of awareness of cryptocurrency; subjective perception of cryptocurrency; the presence of the potential interest of Ukrainians in the acquisition of cryptocurrency; media effect on people interest; cryptocurrency pricing correlation from people interest; sources of awareness of cryptocurrency. It was found what exactly Ukrainians consider the main disadvantages and advantages of cryptocurrency. Cryptocurrency as a tool of payment and a type of electronic money is found in most countries of the world in the “grey” zone, and regulators, if not forbid, then at least do not recommend citizens to invest in such assets. However, the expertise of Ukrainian blockchain developers allows using cryptocurrency in the Ukrainian markets for the effective implementation of world experience.