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A historical excursion through the development of cryptocurrencies in the world

Author

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  • Jiří KuÄ era

    (University of Žilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics)

  • Tomáš Andelík

    (Institute of Technology and Business in České Budějovice, School of Expertness and Valuation)

Abstract

In this paper, the topic of cryptocurrencies is investigated. The aim is to explain the basic characteristics of four selected cryptocurrencies, to show what the investment in these cryptocurrencies would have looked like in the last two years. Each of the cryptocurrencies examined varies greatly in both purpose and effectiveness. We use the methods of performance comparison and technical analysis. The aim of the article is to compare Ethereum and Bitcoin and to show the effect of the coronavirus pandemic on the development of cryptocurrency prices. The results show that investments in Ethereum or Bitcoin have been the most profitable in the last two years. Regarding the period of the coronavirus crisis, the most favorable investment was Ethereum.

Suggested Citation

  • Jiří KuÄ era & Tomáš Andelík, 2021. "A historical excursion through the development of cryptocurrencies in the world," Littera Scripta, VSTE, vol. 14(1), pages 71-85, September.
    • Handle: RePEc:rsg:littra:2021-007
    DOI: 10.36708/LS.2021.I01.007
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    References listed on IDEAS

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    3. Tran, Vu Le & Leirvik, Thomas, 2020. "Efficiency in the markets of crypto-currencies," Finance Research Letters, Elsevier, vol. 35(C).
    4. Eloy Gil-Cordero & Juan Pedro Cabrera-Sánchez & Manuel Jesús Arrás-Cortés, 2020. "Cryptocurrencies as a Financial Tool: Acceptance Factors," Mathematics, MDPI, vol. 8(11), pages 1-16, November.
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