Bitcoin ile seçili finansal göstergeler arasındaki ilişkinin incelenmesi
Küçük Resim Yok
Tarih
2022
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Niğde Ömer Halisdemir Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
2010 yılından itibaren hızla yaygınlaşan kripto para birimleri, merkezi bir otoriteye bağlı olan geleneksel paralara karşı oluşturulmuştur. Kripto paralar, herhangi bir denetleyici ve düzenleyici bir otoriteye bağlı olmamakla birlikte, şifreleme sistemi ile oluşturulmaktadır. Geleneksel paraların aktarım mekanizmasında üçüncü bir aracı kuruma ihtiyaç varken kripto paralarda direkt bir kullanıcıdan diğer kullanıcının hesabına aktarılmaktadır. Kripto para birimlerinin ilk başarılı örneği olan Bitcoin, ilk kez Satoshi Nakamoto adlı bir kişi veya kişilerden 2008 yılında bir makalede adı geçmektedir. Bu makale kripto para ile ilgilenen kişilere, e-posta ile gönderilerek tanıtılmış ve Bitcoin bir kripto para olarak hayatımızın içinde yer almıştır. 2011 yılından itibaren Bitcoin' e alternatif olarak üretilen diğer kripto para birimleri altcoin olarak isimlendirmekte ve yaygınlaşmaktadır. Bu kripto para birimleri küresel boyutta borsalarda işlem görmektedir. Çalışmadaki amaç, piyasa değeri en yüksek olan kripto para birimlerinden Bitcoin ile seçili finansal göstergelerden; Dolar bazında Bitcoin fiyatları ile BIST 100 Endeksi, BIST Sürdürülebilirlik Endeksi, Dolar bazında gram altın fiyatı, 1 Aya Kadar Vadeli TL Üzerinden Açılan Mevduat Faiz oranı ile Sanayi Üretim Endeksi değişkenleri arasında ilişki olup olmadığını araştırmaktır. Veri setinin aralığı Ocak 2018- Kasım 2022 tarih aralığındaki aylık şekilde oluşturulmuştur. Değişkenlerin durağanlıkların tespiti için ADF-PP testleri kullanılmıştır. Daha sonra değişkenler arasındaki ilişki Toda-Yamamoto Testi ile test edilmiştir. Granger Nedensellik testi ile aralarında ilişki olup olmadığı araştırılmıştır. Analiz sonuçlarına göre, Bitcoin fiyatı; BIST 100, BIST Sürdürülebilirlik Endeksi, faiz oranı, Sanayi Üretim Endeksi ve gram altın fiyatlarının değişimine neden olmamaktadır. Diğer bir ifadeyle, Bitcoin fiyatı ile BIST 100, BIST Sürdürülebilirlik Endeksi, faiz oranı, Sanayi Üretim Endeksi ve gram altın fiyatları ile arasında bir nedensellik ilişkisi bulunamamıştır.
Cryptocurrencies, which have become widespread since 2010, were created against traditional currencies that are dependent on a central authority. Although cryptocurrencies are not dependent on any supervisory and regulatory authority, they are created with a cryptographic system. While there is a need for a third intermediary institution in the transmission mechanism of traditional currencies, cryptocurrencies are transferred directly from one user to the other user's account. Bitcoin, the first successful example of cryptocurrencies, was first mentioned in an article by a person or persons named Satoshi Nakamoto in 2008. This article was introduced to people who are interested in crypto money by sending it by e-mail and Bitcoin has taken place in our lives as a crypto money. Since 2011, other cryptocurrencies produced as an alternative to Bitcoin are called altcoins and become widespread. These cryptocurrencies are traded on exchanges globally. The aim of the study is to select financial indicators with Bitcoin, one of the cryptocurrencies with the highest market value; The aim of this study is to investigate whether there is a relationship between Bitcoin prices in dollar terms and BIST 100 Index, BIST Sustainability Index, gram gold price in dollar terms, Deposit Interest Rate on TL with Up to 1 Months and Industrial Production Index variables. The range of the data set was created monthly between January 2018 and November 2022. ADF-PP tests were used to determine the stationarities of the variables. Then, the relationship between the variables was tested with the Toda-Yamamoto Test. It was investigated whether there was a relationship between them with the Granger Causality test. According to the results of the analysis, Bitcoin price; BIST 100 does not cause changes in BIST Sustainability Index, interest rate, Industrial Production Index and gram gold prices. In other words, no causal relationship was found between Bitcoin price and BIST 100, BIST Sustainability Index, interest rate, Industrial Production Index and gram gold prices.
Cryptocurrencies, which have become widespread since 2010, were created against traditional currencies that are dependent on a central authority. Although cryptocurrencies are not dependent on any supervisory and regulatory authority, they are created with a cryptographic system. While there is a need for a third intermediary institution in the transmission mechanism of traditional currencies, cryptocurrencies are transferred directly from one user to the other user's account. Bitcoin, the first successful example of cryptocurrencies, was first mentioned in an article by a person or persons named Satoshi Nakamoto in 2008. This article was introduced to people who are interested in crypto money by sending it by e-mail and Bitcoin has taken place in our lives as a crypto money. Since 2011, other cryptocurrencies produced as an alternative to Bitcoin are called altcoins and become widespread. These cryptocurrencies are traded on exchanges globally. The aim of the study is to select financial indicators with Bitcoin, one of the cryptocurrencies with the highest market value; The aim of this study is to investigate whether there is a relationship between Bitcoin prices in dollar terms and BIST 100 Index, BIST Sustainability Index, gram gold price in dollar terms, Deposit Interest Rate on TL with Up to 1 Months and Industrial Production Index variables. The range of the data set was created monthly between January 2018 and November 2022. ADF-PP tests were used to determine the stationarities of the variables. Then, the relationship between the variables was tested with the Toda-Yamamoto Test. It was investigated whether there was a relationship between them with the Granger Causality test. According to the results of the analysis, Bitcoin price; BIST 100 does not cause changes in BIST Sustainability Index, interest rate, Industrial Production Index and gram gold prices. In other words, no causal relationship was found between Bitcoin price and BIST 100, BIST Sustainability Index, interest rate, Industrial Production Index and gram gold prices.
Açıklama
Sosyal Bilimler Enstitüsü, Bankacılık ve Finans Ana Bilim Dalı
Anahtar Kelimeler
Bankacılık, Banking