The Impact of Unsystematic Factors on Bitcoin Value

The results of empirical analyses confirm that analysed unsystematic factors, the Stock-to-Flow index (S2F), and information on the Bitcoin (BTC) are directly correlated with BTC values. These results are expected and in line with the economic theory; however, this research paper aimed to investigat...

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Autores principales:	Zvonko Merkaš, Vlasta Roška
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	Bitcoin (BTC) Stock-to-Flow (S2F) S2FX unsystematic factors Risk in industry. Risk management HD61 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/88be6d72078047479774853c69e56ed5
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id	oai:doaj.org-article:88be6d72078047479774853c69e56ed5
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spelling	oai:doaj.org-article:88be6d72078047479774853c69e56ed52021-11-25T18:08:42ZThe Impact of Unsystematic Factors on Bitcoin Value10.3390/jrfm141105461911-80741911-8066https://doaj.org/article/88be6d72078047479774853c69e56ed52021-11-01T00:00:00Zhttps://www.mdpi.com/1911-8074/14/11/546https://doaj.org/toc/1911-8066https://doaj.org/toc/1911-8074The results of empirical analyses confirm that analysed unsystematic factors, the Stock-to-Flow index (S2F), and information on the Bitcoin (BTC) are directly correlated with BTC values. These results are expected and in line with the economic theory; however, this research paper aimed to investigate the impact of unsystematic factors on the value of decentralised virtual cryptocurrency BTC. Its aim was also to analyse the reasons for significant oscillations of market values in relation to the S2F and S2FX model and thus confirm the reliability of these models in the estimation of BTC value. The research further confirms the strong influence of non-technical information directly linked with the BTC. The limitations of this paper are the lack of possibilities for examining the impact of non-technical information affecting the Bitcoin price deviation regarding the S2F model. In addition to all mentioned limitations, the research results indicate the relevance of the S2F and S2FX models and show a strong impact of (half) the information on the value of cryptocurrencies.Zvonko MerkašVlasta RoškaMDPI AGarticleBitcoin (BTC)Stock-to-Flow (S2F)S2FXunsystematic factorsRisk in industry. Risk managementHD61FinanceHG1-9999ENJournal of Risk and Financial Management, Vol 14, Iss 546, p 546 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Bitcoin (BTC) Stock-to-Flow (S2F) S2FX unsystematic factors Risk in industry. Risk management HD61 Finance HG1-9999
spellingShingle	Bitcoin (BTC) Stock-to-Flow (S2F) S2FX unsystematic factors Risk in industry. Risk management HD61 Finance HG1-9999 Zvonko Merkaš Vlasta Roška The Impact of Unsystematic Factors on Bitcoin Value
description	The results of empirical analyses confirm that analysed unsystematic factors, the Stock-to-Flow index (S2F), and information on the Bitcoin (BTC) are directly correlated with BTC values. These results are expected and in line with the economic theory; however, this research paper aimed to investigate the impact of unsystematic factors on the value of decentralised virtual cryptocurrency BTC. Its aim was also to analyse the reasons for significant oscillations of market values in relation to the S2F and S2FX model and thus confirm the reliability of these models in the estimation of BTC value. The research further confirms the strong influence of non-technical information directly linked with the BTC. The limitations of this paper are the lack of possibilities for examining the impact of non-technical information affecting the Bitcoin price deviation regarding the S2F model. In addition to all mentioned limitations, the research results indicate the relevance of the S2F and S2FX models and show a strong impact of (half) the information on the value of cryptocurrencies.
format	article
author	Zvonko Merkaš Vlasta Roška
author_facet	Zvonko Merkaš Vlasta Roška
author_sort	Zvonko Merkaš
title	The Impact of Unsystematic Factors on Bitcoin Value
title_short	The Impact of Unsystematic Factors on Bitcoin Value
title_full	The Impact of Unsystematic Factors on Bitcoin Value
title_fullStr	The Impact of Unsystematic Factors on Bitcoin Value
title_full_unstemmed	The Impact of Unsystematic Factors on Bitcoin Value
title_sort	impact of unsystematic factors on bitcoin value
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/88be6d72078047479774853c69e56ed5
work_keys_str_mv	AT zvonkomerkas theimpactofunsystematicfactorsonbitcoinvalue AT vlastaroska theimpactofunsystematicfactorsonbitcoinvalue AT zvonkomerkas impactofunsystematicfactorsonbitcoinvalue AT vlastaroska impactofunsystematicfactorsonbitcoinvalue
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The Impact of Unsystematic Factors on Bitcoin Value

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