GOLD PRICE AND BITCOIN EXCHANGE RATE: IS THERE A CORRELATION?
GOLD PRICE AND BITCOIN EXCHANGE RATE: IS THERE A CORRELATION?
Author(s): Nikolay PatonovSubject(s): Economy, Financial Markets
Published by: ЮГОЗАПАДЕН УНИВЕРСИТЕТ »НЕОФИТ РИЛСКИ«
Keywords: Gold price; Bitcoin exchange rate; US dollars; correlation
Summary/Abstract: The purpose of this paper is to study the empirical relation between Gold price and Bitcoin exchange rate. Both the rates have been expressed in US dollars. The empirical analysis has been run via quantitative techniques – correlation analysis and Granger causality test. These procedures have been applied on data with monthly frequency for the period March 2013 – November 2019. The output suggests existence of a weak positive correlation.
Journal: Предприемачество
- Issue Year: 8/2020
- Issue No: 1
- Page Range: 119-124
- Page Count: 6
- Language: English
