<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>In the present paper, the Granger causality test is used to study the causality relationships between Bitcoin and some of the most highly traded currencies, including euro, Japanese yen, British pound, Chinese yuan, and Indian rupee. To this purpose, the daily exchange rates of Bitcoin and the selected currencies to USD between 2014 and 2018 were used. Different from findings in existing literature, our study shows that there are no Granger causalities between Bitcoin and Euro, Japanese yen, British pound, and Indian rupee. A Granger causality is found in the direction from the Chinese yuan to Bitcoin.</p>
</abstract>

In the present paper, the Granger causality test is used to study the causality relationships between Bitcoin and some of the most highly traded currencies, including euro, Japanese yen, British pound, Chinese yuan, and Indian rupee. To this purpose, the daily exchange rates of Bitcoin and the selected currencies to USD between 2014 and 2018 were used. Different from findings in existing literature, our study shows that there are no Granger causalities between Bitcoin and Euro, Japanese yen, British pound, and Indian rupee. A Granger causality is found in the direction from the Chinese yuan to Bitcoin.

Determining the Foreign Currencies Affecting the Bitcoin.

Applied Mathematics and Nonlinear Sciences

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"Determining the Foreign Currencies Affecting the Bitcoin."}

In the present paper, the Granger causality test is used to study the causality relationships between Bitcoin and some of the most highly traded currencies,...

Determining the Foreign Currencies Affecting the Bitcoin.

Published Online: Nov 10, 2023

Page range: 3427 - 3444

Received: Jun 14, 2023

Accepted: Aug 23, 2023

DOI: https://doi.org/10.2478/amns.2023.2.01139

Keywords
Electronic Money, Cryptocurrency, Bitcoin, Exchange Rate, Time Series Analysis, Granger Causality

© 2023 Gul Cennet Ozaltun et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Determining the Foreign Currencies Affecting the Bitcoin.

Published Online: Nov 10, 2023

Page range: 3427 - 3444

Received: Jun 14, 2023

Accepted: Aug 23, 2023

DOI: https://doi.org/10.2478/amns.2023.2.01139

KeywordsElectronic Money, Cryptocurrency, Bitcoin, Exchange Rate, Time Series Analysis, Granger Causality

© 2023 Gul Cennet Ozaltun et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
Electronic Money, Cryptocurrency, Bitcoin, Exchange Rate, Time Series Analysis, Granger Causality