Oportunităţi şi vulnerabilităţi ale Bitcoin
Opportunities and vulnerabilities of Bitcoin

Summary/Abstract: In the field of currency evolution there are many moments that marked a spectacular leap in the form of its existence, of which the emergence of cryptocurrencies is the latest innovation in the field. In this context, the creation of Bitcoin, as the first and most important digital currency, involves a series debates starting, first of all, from the exclusion of any monetary authority in the issuance and control of the amount of currency issued and traded, and continuing with all aspects involved in transactions and its use. Based on the debates and opinions expressed in the literature on the importance and vulnerabilities of Bitcoin, we aimed to identify the factors that influenced Bitcoin quotations, the correlations between the price of this cryptocurrency and other financial assets of the global financial market. For this purpose, we proceeded to use the multiple regression method in the Eviews 7 program, considering a database with a sample of 261 observations available for the period April 2017-April 2018. The conclusions of the study are in line with the general trend of ideas formulated so far, and the novelty we bring is that digital currency does not evolve in correlation with internationally used currencies or other financial assets, which means that investors in Bitcoin formulates its own reasoning in trading decisions, independent of developments in the global financial market. However, the results of the study can be used to substantiate investment decisions and optimize the asset portfolio of investors.

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