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Bitcoin Value Analysis

1591 Words7 Pages

SCOPE
This paper covers the volatility of Bitcoin value expressed in US Dollars (USD). Bitcoin is emerging as a trading avenue, and this has taken bitcoin’s value to unprecedented valuation especially against the USD. This phenomenon has occurred off late, and therefore this paper covers a span of data across four years. Since the volatility of beta has reached unprecedented levels the time horizon considered is from 2013-2017. Although several countries have taken a stance about bitcoin, India is still wary about using it as a digital payment method.
OBJECTIVE
• To observe the volatility of exchange rate of bitcoin against the selected currency.
• To study if bitcoin can be a mode of digital payment in India.
METHODOLOGY
Secondary data has …show more content…

We infer that the volatility of bitcoin value in USD is autoregressive. This means that the past data influences the Future Market. C (5) Asymmetric tests if the good and bad news have an effect on the volatility of the bitcoin values in the above analysis. The result is positive which means the positive news has no significant impact on the bitcoin values. C (6) Garch checks the clustering volatility of the bitcoin values at a significant level of 5% level. The coefficient value is 0.84 which means there is high clustering …show more content…

The main benefit of bitcoin is it has a low cost of transfers in comparison to the standard currencies. Bitcoin has shown tremendous growth in the last few years, but still, it is difficult for the bitcoin users to accept bitcoin as a medium of exchange. And there are several reasons for it. The bitcoin users find it difficult to procure new bitcoin, challenging to grant loans in Bitcoins as it is not as liquid as fiat Currency and requires a high level of computer knowledge as it operates electronically. A currency serves as a unit of account, but on the other hand, the prices of bitcoin are highly volatile. One more advantage of bitcoin is that a bitcoin can be divided into small fractions. But at the same time, it can also create confusion among the bitcoin users regarding the bitcoin prices expressed in many decimal places. Currency also serves as a store of value whereas currencies are inflationary, bitcoins are deflationary (Ciaian, Rajcaniova, & Kancs, 2016). Even if it is an advantage for the bitcoin users, but it may minimise its use in the trading of goods and services due to the threat of

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