Porovnání faktorů ovlivňujících ceny bitcoinu a zlata

Abstract

The most popular cryptocurrency bitcoin is often being compared with one of the oldest commodity in the world, with gold. Reason behind this are similar properties of these two assets. The aim of the work is to assess the influence of selected factors on price development of bitcoin and gold. Models are estimated using regression analysis. Based on these models it can be determined whether price is influenced by the same or different variables. The overall results show that the price changes of these two assets are affected by different variables. Therefore, no similarity can be established in the price determination of bitcoin and gold. An investor who includes these two assets in his portfolio can therefore reduce the overall risk thanks to diversification