Influence of the Ukraine-Russian conflict on cryptocurrency markets

Ing. Vujadin Janković

Master's thesis

Anotácia:

The aim of this thesis is to identify if there was an influence of the start of war between Russia and Ukraine on the cryptocurrency market. To reach the aim, we used the Event Study methodology to calculate the Abnormal Returns of three main cryptocurrencies, Bitcoin, Ethereum, representing cryptocurrencies based on blockchain, and USD Coin which represents the stablecoins, based on this using, a Student t-test calculated the significant influence of the war on the crypto market. The null hypothesis is expected from the war not to have an influence on the market, and this hypothesis was fulfilled.

Abstract:

The aim of this thesis is to identify if there was an influence of the start of war between Russia and Ukraine on the cryptocurrency market. To reach the aim, we used the Event Study methodology to calculate the Abnormal Returns of three main cryptocurrencies, Bitcoin, Ethereum, representing cryptocurrencies based on blockchain, and USD Coin which represents the stablecoins, based on this using, a Student t-test calculated the significant influence of the war on the crypto market. The null hypothesis is expected from the war not to have an influence on the market, and this hypothesis was fulfilled.

Keywords

Ukraine-Russia conflict, Event Study Methodology, Cryptocurrencies, Bitcoin, Ethereum, USD Coin, Abnormal Returns, Blockchain, Market Model

Jazyk práce: English

Datum vytvoření / odevzdání či podání práce: 5. 1. 2024

Obhajoba závěrečné práce

• Obhajoba proběhla 31. 1. 2024
• Vedúci: Ing. Dagmar Vágnerová Linnertová, Ph.D.
• Oponent: Ing. Veronika Kajurová, Ph.D.

Masaryk University

Faculty of Economics and Administration

Master programme / odbor:
Finance / Finance