Economic Analysis of Bitcoin and other virtual currencies

Illia Tyshchenko

Bakalářská práce

Abstract:

The following bachelor thesis is focused on determining whether the price of Bitcoindepends on or correlates with prices of other investment goods and values of of integraleconomic performance indexes as well as to try to predict the price of Bitcoin in the next 2quarters if the previous analysis leads to the conclusion that this is feasible. The aim was toidentify whether price of Bitcoin at least moderately correlates with prices of othercryptocurrencies.The thesis itself consists of two parts. The theoretical one is based on the literatureand on-line articles research. It includes concept and nature of cryptocurrencies, theirhistory,types. In addition, the theoretical part goes through the Legal status ofcryptocurrencies in various countries their advantages, risks and role.The purpose of the analysis provided in the practical part of the thesis is developing a theoretical model of possible Bitcoin rate’s dependence on rates of some othercryptocurrencies (Ethereum, XRP/Ripple, LiteCoin), world prices of energy resources suchas Brent oil, prices of precious metals such as gold and silver as well as on main indicatorsof economic performance: Dow Jones, Nasdaq, and S&P 500.

Keywords

LiteCoin, Altcoin, cryptocurrencies, Dow Jones, Satoshi Nakomoto, Bitcoin, transaction, dollar, stock exchange, peer-to-peer

Jazyk práce: angličtina

Datum vytvoření / odevzdání či podání práce: 23. 3. 2020

Obhajoba závěrečné práce

• Vedoucí: Ing. Petr Procházka, MSc Ph.D.

Česká zemědělská univerzita v Praze

Provozně ekonomická fakulta

Bakalářský studijní program / obor:
Economics Policy and Administration / Business Administration