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Can Bitcoin’S Price Be A Predictor Of Stock Prices?

Author

Listed:
  • Yutaka Kurihara

    (Faculty of Economics, Aichi University, Japan)

  • Akio Fukushima

    (Institute for Economic Studies, Seijo University, Japan)

  • Shinichiro Maeda

    (Faculty of Economics, Kyushu University, Japan)

Abstract

Bitcoin has become widely used, and it can be expected that the price would have impacts on stock prices. Along with interest rates, some economic variables have been focused as deterministic elements of stock prices. This study examines whether or not Bitcoin’s price can be a predictor of stock prices. Empirical results show that interest rates and stock prices are deterministic elements of stock prices. Also, among economic variables, Bitcoin’s price is not a predictor of stock prices. Instead, interest rates and stock prices are suitable for predictors of stock prices.

Suggested Citation

  • Yutaka Kurihara & Akio Fukushima & Shinichiro Maeda, 2020. "Can Bitcoin’S Price Be A Predictor Of Stock Prices?," Noble International Journal of Economics and Financial Research, Noble Academic Publsiher, vol. 5(4), pages 50-55, April.
    • Handle: RePEc:nap:nijefr:2020:p:50-55
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