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The Relationship between the Cryptocurrency Value (Bitcoin) and Interest for it in the Region

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015

Author

Listed:
  • Dokic, Kristian
  • Radman Funaric, Mirjana
  • Potnik Galic, Katarina

Abstract

Recently the term Cryptocurrency is a frequently used in the mainstream media. The main reason for that is a bitcoin occurrence with reference to the technology and cryptographic inventions that stand behind the bitcoin. Cryptocurrency is legal in region because the European Union has liberal monetary regulations and it can be seen that region successfully follows the world trends in this field. The goal of this paper is to indicate a strong relationship between the value of Bitcoin and expressed interest for it in 11 South-East Europe region countries. The last four and half years will be analysed on a monthly base and data from service Google Trends will be used. Spearman's rank correlation between the expressed interest and bitcoin values for the last four and half years will be calculated. Comment on strong relationship between those variables will be given at the end.

Suggested Citation

  • Dokic, Kristian & Radman Funaric, Mirjana & Potnik Galic, Katarina, 2015. "The Relationship between the Cryptocurrency Value (Bitcoin) and Interest for it in the Region," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2015), Kotor, Montengero, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Kotor, Montengero, 10-11 September 2015, pages 391-398, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
    • Handle: RePEc:zbw:entr15:183674
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    References listed on IDEAS

    as
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    2. Angela ROGOJANU & Liana BADEA, 2014. "The issue of competing currencies. Case study – Bitcoin," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(590)), pages 103-114, January.
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    More about this item

    Keywords

    cryptocurrency; bitcoin; ICT;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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