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The Relationship between Bitcoin and Nasdaq, U.S. Dollar Index and Commodities

Author

Listed:
  • Aysu Ahmadova

    (International School of Economics, Azerbaijan State University of Economics (UNEC), Azerbaijan)

  • Taghi Guliyev

    (International School of Economics, Azerbaijan State University of Economics (UNEC), Azerbaijan)

  • Khatai Aliyev

    (UNEC Empirical Research Center, Azerbaijan State University of Economics (UNEC), Azerbaijan)

Abstract

This paper investigates the long-run interaction between Bitcoin and Nasdaq, U.S. Dollar Index and commodities by applying weekly data from 1 January 2017 until 21 May 2023. This study uses FMOLS, DOLS and CCR methods to examine the long-run association between the variables. The results reveal a positive and significant relationship between Bitcoin and Nasdaq, as well as a similar positive association between Bitcoin and Oil prices. Notably, the U.S. Dollar Index exhibits a negative and significant impact on Bitcoin. However, results show that Gold does not have significant impact on Bitcoin. Finally, the results show that there are significant Granger causality from Nasdaq, oil and gold to Bitcoin.

Suggested Citation

  • Aysu Ahmadova & Taghi Guliyev & Khatai Aliyev, 2024. "The Relationship between Bitcoin and Nasdaq, U.S. Dollar Index and Commodities," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 281-289, January.
    • Handle: RePEc:eco:journ2:2024-01-29
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    References listed on IDEAS

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    More about this item

    Keywords

    Bitcoin; Nasdaq; U.S. Dollar Index; Gold; Oil; Cointegration;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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