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The Effect of News About Bitcoin and Crypto Coins on Bitcoin Prices

Author

Listed:
  • Türker Teker

    (Süleyman Demi̇rel University)

  • Ayşen Konuşkan
  • Vesile Ömürbek

    (Süleyman Demi̇rel University)

  • İsmail Bekçi

    (Süleyman Demi̇rel University)

Abstract

Bitcoin stands out as which is most daily trade cryptocurrency in the market. In this study, we have examined the effects of all negative or positive news about bitcoin on changes of daily closing price, daily highest price and daily trading volume of bitcoin. News about bitcoin and cryptocurrencies published on yahoofinance.com and bloomberg.com web pages between may 2018 and december 2018 were evaluated. The results of the study show that positive and negative news about crypto currencies and bitcoin do not cause a significant difference on bitcoin prices and transaction volumes.

Suggested Citation

  • Türker Teker & Ayşen Konuşkan & Vesile Ömürbek & İsmail Bekçi, 2020. "The Effect of News About Bitcoin and Crypto Coins on Bitcoin Prices," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 35(113), pages 65-74, April.
    • Handle: RePEc:acc:malfin:v:35:y:2020:i:113:p:65-74
    DOI: https://doi.org/10.33203/mfy.567989
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    More about this item

    Keywords

    Bitcoin; Crypto Money; Mann- Whitney U;
    All these keywords.

    JEL classification:

    • G0 - Financial Economics - - General
    • F1 - International Economics - - Trade
    • F3 - International Economics - - International Finance

    Statistics

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