THE COINTEGRATION RELATIONSHIP BETWEEN BITCOIN PRICES AND MAJOR WORLD STOCK INDICES: AN ANALYSIS WITH ARDL MODEL APPROACH
Journal: Pressacademia
Year: 2017

Purpose -Aiming to discover whether Bitcoin prices have an effect on investor decisions in stock market transactions sounds exciting. Therefore, among investment, money, payment system functionalities of the cryptocurrencies which are very popular on economic and financial agenda nowadays, only the investment function regarding to the market volume of Bitcoin (which is very popular) is taken into consideration in this study. Methodology -In the scope of the study, because similar analyses betwee