Exploration of the relationships between Google searches and Bitcoin’s volatility, traded volume and price

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi
dc.contributor.advisor Stepanov, Roman
dc.contributor.author Kesseli, Samuli
dc.date.accessioned 2018-09-10T09:27:17Z
dc.date.available 2018-09-10T09:27:17Z
dc.date.issued 2018
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/33946
dc.description.abstract Bitcoin has gained more and more press coverage during the past few years.Bitcoin is also fairly new phenomena, and as such it has not been researched as much as other, more traditional financial assets. Bitcoin is also highly speculative asset. That is why information demand is important variable when looking at Bitcoin’s key figures, which are: price, volatility and traded volume. This paper uses Google Searches (Google Trend Index) as an independent variable whereas Bitcoin’s price, volatility and traded volume are dependent variables. The aim of the study is to find relationships between the independent variable and the dependent variables, through correlations and regression models. The data will be examined yearly from 2014 to 2017. The paper is exploratory in nature, meaning that it will not make specific hypothesizes, due to the lack of research conducted on Bitcoin, but will make more broad assumptions on the results. The aim of the paper is to create foundation for future research and gain more information on the matter and possibly gain new perspectives. The main findings of this study were upward trend and overall very high correlations across all years. However, the results for 2017 were significantly higher than the previous years. All the regression models showed positive coefficients meaning that as the Google Trend Index rises so does Bitcoin price, volatility and traded volume. However, the rise in volatility was fairly limited. Also, nearly all the regression model results were significant. The problem of internal validity existed in the study, which meant that no causal relationship could be found. en
dc.format.extent 38 + 16
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.title Exploration of the relationships between Google searches and Bitcoin’s volatility, traded volume and price en
dc.type G1 Kandidaatintyö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Mikkelin kampus fi
dc.subject.keyword Bitcoin en
dc.subject.keyword volatility en
dc.subject.keyword volume en
dc.subject.keyword Google searches en
dc.subject.keyword information demand en
dc.subject.keyword regression en
dc.subject.keyword correlation en
dc.subject.keyword behavioral finance en
dc.identifier.urn URN:NBN:fi:aalto-201809105057
dc.type.ontasot Bachelor's thesis en
dc.type.ontasot Kandidaatintyö fi
dc.programme (Mikkeli) Bachelor’s Program in International Business en

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