Meiryani Meiryani
ABSTRACT
This study aims to determine the effect of the S&P 500 Stock Index Price and Gold Price movements on Bitcoin Price movements. This research uses quantitative methods and data collection used is secondary data. Secondary data sources are obtained through the website finance.yahoo.com. The data processing technique will be carried out using SPSS 23 program and the method analysis in this study using descriptive and verification analysis consisting of Multiple Linear Regression method. The results of this study show that the stock index price has a positive effect on the movement of the Bitcoin price, while the gold price has a negative effect on the movement of the Bitcoin price.
- Lee, D. K. C., Guo, L., & Wang, Y. (2018). Cryptocurrency: A new investment opportunity? Journal of Alternative Investments, 20(3), 16–40. https://doi.org/10.3905/jai.2018.20.3.016Google Scholar
- Jareño, F., González, M. de la O., Tolentino, M., & Sierra, K. (2020). Bitcoin and gold price returns: A quantile regression and NARDL analysis. Resources Policy, 67(December 2019). https://doi.org/10.1016/j.resourpol.2020.101666Google Scholar
- Herk, H. Van. (2021). CULTU L ASPECTS OF COMPULSIVE BUYING IN EMERGING AND DEVELOPED ECONOMIES: A CROSS CULTU L STUDY IN COMPULSIVE BUYING.Google Scholar
- Horta, P., Lagoa, S., Martins, L., Horta, P., & Lagoa, S. (2016). Unveiling investor-induced channels of financial contagion in the 2008 financial crisis using copulas Unveiling investor-induced channels of fi nancial contagion in the 2008 fi nancial crisis using copulas. Quantitative Finance, 7688(October), 1–13. https://doi.org/10.1080/14697688.2015.1033447Google Scholar
- Brière, M., Burgues, A., & Signori, O. (2010). Volatility exposure for strategic asset allocation. Journal of Portfolio Management, 36(3), 105–116. https://doi.org/10.3905/JPM.2010.36.3.105Google ScholarCross Ref
- Liew, J., Li, R., Budavári, T., & Sharma, A. (2019). Cryptocurrency Investing Examined. The Journal of the British Blockchain Association, 2(2), 1–12. https://doi.org/10.31585/jbba-2-2-(2)2019Google ScholarCross Ref
- Bjerg, O. (2016). How is Bitcoin Money? Theory, Culture & Society, 33(1), 53–72. https://doi.org/10.1177/0263276415619015Google ScholarCross Ref
- Urquhart, A. (2016). The inefficiency of Bitcoin. Economics Letters, 148, 80–82. https://doi.org/10.1016/j.econlet.2016.09.019Google ScholarCross Ref
- Wang, X., Chen, X., & Zhao, P. (2020). The Relationship Between Bitcoin and Stock Market. International Journal of Operations Research and Information Systems, 11(2), 22–35. https://doi.org/10.4018/ijoris.2020040102Google ScholarDigital Library
- Kontan.com. (2021, May). Saham Tesla anjlok, harga Bitcoin ikut jatuh. https://investasi.kontan.co.id/news/saham-tesla-anjlok-harga-bitcoin-ikut-jatuhGoogle Scholar
- Kompas.com. (2021, May). Ini Penyebab Harga Bitcoin Anjlok Rp 81,2 Juta dalam Sehari. https://money.kompas.com/read/2021/05/20/092320726/ini-penyebab-harga-bitcoin-anjlok-rp-812-juta-dalam-sehari?page=allGoogle Scholar
- Kontan.com. (2018, March). Ini reaksi bitcoin terhadap kenaikan bunga dollar AS. https://internasional.kontan.co.id/news/ini-reaksi-bitcoin-terhadap-kenaikan-bunga-dollar-asGoogle Scholar
- Frankenfield, J. (2021). Cryptocurrency. https://www.investopedia.com/terms/c/cryptocurrency.aspGoogle Scholar
- Syamsiah, N. O. (2017). Kajian Atas Cryptocurrency Sebagai Alat Pembayaran Di Indonesia. Indonesian Journal on Networking and Security, 6(1), 53–61.Google Scholar
- Sveriges Riksbank. (2014). , 2014 What is Bitcoin?Google Scholar
- IndonesiaStockExchange. (2021b). Saham. https://www.idx.co.id/produk/saham/Google Scholar
- Tandelilin, E. (2001). Analisis Investasi dan Manajemen Portofolio (edisi 1). BPFE-Yogyakarta. http://ucs.sulsellib.net//index.php?p=show_detail&id=37871Google Scholar
- IndonesiaStockExchange. (2021a). Indeks. https://www.idx.co.id/produk/indeks/Google Scholar
- Shanken, J., & Weinstein, M. I. (2006). Economic forces and the stock market revisited. Journal of Empirical Finance, 13(2), 129–144. https://doi.org/10.1016/j.jempfin.2005.09.001Google ScholarCross Ref
- Pluang.com. (2021). Apa itu S&P 500? https://help.pluang.com/knowledge/apa-itu-sp-500Google Scholar
- Spglobal.com. (2021). S&P 500®. https://www.spglobal.com/spdji/en/indices/equity/sp-500/#overviewGoogle Scholar
- Toraman, C., Başarır, Ç., & Bayramoğlu, M. F. (2011). Determination of Factors Affecting the Price of Gold: A Study of MGARCH Model. Business and Economics Research Journal, 2(4), 37–50. www.berjournal.comGoogle Scholar
- Shafiee, S., & Topal, E. (2010). An overview of global gold market and gold price forecasting. Resources Policy, 35(3), 178–189. https://doi.org/10.1016/j.resourpol.2010.05.004Google ScholarCross Ref
- Beckmann, J., Berger, T., & Czudaj, R. (2019). Gold price dynamics and the role of uncertainty. Quantitative Finance, 19(4), 663–681. https://doi.org/10.1080/14697688.2018.1508879Google ScholarCross Ref
- López-Cabarcos, M. Á., Pérez-Pico, A. M., Piñeiro-Chousa, J., & Šević, A. (2021). Bitcoin volatility, stock market and investor sentiment. Are they connected? Finance Research Letters, 38(September), 101399. https://doi.org/10.1016/j.frl.2019.101399Google ScholarCross Ref
- Baur, D. G., Dimpfl, T., & Kuck, K. (2018). Bitcoin, gold and the US dollar – A replication and extension. Finance Research Letters, 25, 103–110. https://doi.org/10.1016/j.frl.2017.10.012Google ScholarCross Ref
- Chaim, P., & Laurini, M. P. (2019). Is Bitcoin a bubble? Physica A: Statistical Mechanics and Its Applications, 517(November), 222–232. https://doi.org/10.1016/j.physa.2018.11.031Google ScholarCross Ref
- Nguyen, K. Q. (2021). The correlation between the stock market and Bitcoin during COVID-19 and other uncertainty periods. Finance Research Letters, January, 102284. https://doi.org/10.1016/j.frl.2021.102284Google Scholar
- González, M. de la O., Jareño, F., & Skinner, F. S. (2021). Asymmetric interdependencies between large capital cryptocurrency and Gold returns during the COVID-19 pandemic crisis. International Review of Financial Analysis, 76(March). https://doi.org/10.1016/j.irfa.2021.101773Google ScholarCross Ref
- Bouri, E., Shahzad, S. J. H., Roubaud, D., Kristoufek, L., & Lucey, B. (2020). Bitcoin, gold, and commodities as safe havens for stocks: New insight through wavelet analysis. Quarterly Review of Economics and Finance, 77, 156–164. https://doi.org/10.1016/j.qref.2020.03.004Google ScholarCross Ref
- Haubo, A. (2015). www.econstor.eu.Google Scholar
- Dyhrberg, A. H. (2016). Bitcoin, gold and the dollar - A GARCH volatility analysis. Finance Research Letters, 16, 85–92. https://doi.org/10.1016/j.frl.2015.10.008Google ScholarCross Ref
- Prasetio, A. (2011). Manajemn Pemasaran,Analisis Perencanaan dan Pengendalian. Management Analysis Journal, 1(4).Google Scholar
- Godbole, O. (2020). Bitcoin's Price Correlation With S&P 500 Hits Record Highs. https://www.coindesk.com/markets/2020/07/03/bitcoins-price-correlation-with-sp-500-hits-record-highs/Google Scholar
- Mahardika, L. A. (2021). Pamor Bitcoin Bikin Harga Emas Redup. https://market.bisnis.com/read/20210111/235/1341144/pamor-bitcoin-bikin-harga-emas-redupGoogle Scholar
- Susanto,A.,Meiryani. 2019. System Development Method with The Prototype Method. International Journal of Scientific and Technology Research, 8 (7), pp.141-144.Google Scholar
- Susanto,A.,Meiryani. The Importance of Risk Management in an Organizations. International Journal of Scientific and Technology Research, 7(11), pp. 103-107.Google Scholar
- Meiryani.,Fitriani,N.A.,Habib,M.M. 2019. Can Information Technology and Good Corporate Governance be Used by Internal Control for Fraud Prevention. International Journal of Recent Technology and Engineering, 8 (3), pp. 5556-5567.Google Scholar
Index Terms
- The Effect of Stock Index and Gold Price Movements on Bitcoin Price Movements
Index terms have been assigned to the content through auto-classification.
Recommendations
Uniform Price Auctions: Equilibria and Efficiency
We study the Uniform Price Auction, one of the standard sealed-bid multi-unit auction formats in Auction Theory, for selling multiple identical units of a single good to multi-demand bidders. Contrary to the truthful and efficient multi-unit Vickrey ...
Uniform Price Auctions: Equilibria and Efficiency
SAGT 2012: Proceedings of the 5th International Symposium on Algorithmic Game Theory - Volume 7615We present our results on Uniform Price Auctions, one of the standard sealed-bid multi-unit auction formats, for selling multiple identical units of a single good to multi-demand bidders. Contrary to the truthful and economically efficient multi-unit ...
Tight Bounds for the Price of Anarchy of Simultaneous First-Price Auctions
We study the price of anarchy (PoA) of simultaneous first-price auctions (FPAs) for buyers with submodular and subadditive valuations. The current best upper bounds for the Bayesian price of anarchy (BPoA) of these auctions are e/(e − 1) [Syrgkanis and ...
Comments