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Analysis of Development and Fluctuation in the Bitcoin Price with Regard to Other Variables

Autor práce: Fejt, Tomáš
Typ práce: Bakalářská práce
Vedoucí práce: Máslo, Lukáš Augustin
Osoba oponující práci: Čermáková, Klára

Informace o vysokoškolské kvalifikační práci

Název práce: Analysis of Development and Fluctuation in the Bitcoin Price with Regard to Other Variables
Typ práce: Bachelor thesis
Jazyk práce: English
Abstrakt: The main objective of this bachelor thesis is to analyse the markets of the Bitcoin and commodities, which are traded on the markets all around the world already, in a chosen period of time between January 2015 and June 2017. This process constitutes the crucial part of the thesis, in order to verify the hypothesis, which states that the Bitcoin is de facto a new kind of commodity, given its very identical behaviour as the above stated goods. This conclusion can be supported by the monetary theory of the Austrian school of economics and also by particular actions taken by central banks of chosen countries, most importantly Fed and ECB.Cumulative data were processed and then used to build a model of regression analysis with the use of ordinary least squares method, in which correlations were examined among changes in market prices of the variables. The results of this model were positive, however, on a rather lesser scale than the hypothesis expected. In general, the hypothesis was accepted, but for the hypothesis to be verified with greater certainty, it is recommended to examine longer periods of time, which would eliminate the extremes induced by significant volatility on the Bitcoin market caused by a certain trendiness originating in the buyers’ pursuit of a quick profit and, at the same time, the administrative precautions whose purpose was to regulate and stabilize the market.The conclusion of this thesis is twofold: 1) the Bitcoin is a commodity, in its basis, with a very similar behaviour as gold, which justifies a common term “virtual gold”. 2) the Bitcoin is not a currency in its basis nature.
Klíčová slova: Bitcoin; cryptocurrency; commodity; market price; stock index; market

Informace o studiu

Studijní program a Studijní obor: Ekonomie a hospodářská správa/Ekonomie
Typ studijního programu: Bakalářský studijní program
Jméno přidělované hodnosti: Bc.
Instituce přidělující hodnost: University of Economics, Prague
Název fakulty: Faculty of Economics
Název katedry: Department of Economics
Instituce archivující a zpřístupňující VŠKP: University of Economics, Prague

Informace o odevzdání a obhajobě

Datum zadání práce: 22. 10. 2017
Datum podání práce: 11. 5. 2018
Datum obhajoby: 14.06.2018
Výsledek obhajoby: Závěrečná práce byla úspěšně obhájena

Soubory ke stažení

Hlavní práce63610_fejt01.pdf [507,41 kB]
Veřejná příloha16994_fejt01.xlsx [55,05 kB]
Veřejná příloha16995_fejt01.xlsx [55,25 kB]
Veřejná příloha16997_fejt01.unknown [2,22 kB]
Oponentura57374_kaderk.pdf [386,31 kB]
Hodnocení vedoucího63610_xmasl14.pdf [645,34 kB]

Údaje ze systému InSIS

Identifikátor https://insis.vse.cz/zp/63610/podrobnosti