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Financial Analysis of Cryptocurrencies in Relation to Standard Financial Instruments

In: Financije teorija i suvremena pitanja = Finance - theory and contemporary issues

Author

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  • Domagoj Sajter

    (Josip Juraj Strossmayer University of Osijek, Faculty of Economics)

Abstract

Cryptocurrencies are relatively new area in the field of finance which require additional attention of academic community. They offer a model of money that is decentralized, non-institutional, completely digital, safe, at the same time both transparent and potentially anonymous, and backed by electricity. The purpose of this paper is to scrutinise cryptocurrencies with standard financial tools, and to observe interconnectedness of price movements of the largest cryptocurrencies among themselves, but also regarding two global financial indexes, EUR/USD currency pair, and two commodities: oil (WTI) and gold. The literature in this field is examined, and a brief review of papers is presented. The hypothesis of unrelated price movements between cryptocurrencies and standard financial instruments was confirmed by descriptive statistics and correlations matrix.

Suggested Citation

  • Domagoj Sajter, 2018. "Financial Analysis of Cryptocurrencies in Relation to Standard Financial Instruments," Occasional Publications, in: Financije teorija i suvremena pitanja = Finance - theory and contemporary issues, edition 1, volume 1, chapter 12, pages 277-301, Josip Juraj Strossmayer University of Osijek, Faculty of Economics.
    • Handle: RePEc:osi:chaptr:18-12
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    Cited by:

    1. Martinčević, Ivana & Črnjević, Sandra & Klopotan, Igor, 2020. "Fintech Revolution in the Financial Industry," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2020), Virtual Conference, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Virtual Conference, 10-12 September 2020, pages 563-571, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.

    More about this item

    Keywords

    cryptocurrencies; cryptoeconomy; bitcoin; ethereum; blockchain;
    All these keywords.

    JEL classification:

    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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