Bitcoin a jeho postavení na finančních trzích

Abstract

The aim of this bachelor thesis is to empirically check the influence of financial and macroeconomic indicators on Bitcoin price. This is achieved by using synthesis and descriptive and correlation analysis as the main scientific methods. The reason for the research was that the majority of authors have done their analysis almost two years ago, which in case of Bitcoin means a very long time. First, the influence of specific financial and macroeconomic indicators on Bitcoin price has been checked in the long run (a period that was created by prolonging the period used in previous literature). In this period the relationship between Bitcoin price and Dow Jones Index value has been confirmed. The previous concept of Bitcoin price and its dependence on USD/EUR exchange rate value and oil price respectively has not been confirmed. A negative correlation between Bitcoin price and gold price has been discovered. After that the influence of all these indicators on Bitcoin price has been checked for the short run as well.