The impact of expected and unexpected factors on the price of Bitcoin

DOI

10.2991/978-94-6463-268-2_43How to use a DOI?

Keywords

Bitcoin; CPI; Covid-19 pandemic; Russian-Ukrainian conflict

Abstract

The influencing factors of Bitcoin price have been an important research direction in academia. In this paper, we categorize the influencing factors of bitcoin price into expected and unanticipated categories, and we choose inflation, a common macroeconomic indicator, as an indicator of expected factors, and the new coronavirus pandemic and the Russian-Ukrainian conflict as indicators of unanticipated factors. The paper analyzes the economics of the impact of these familiar indicators or events on the price of bitcoin, and concludes that inflation has an inverse relationship with the price of bitcoin, that the Covid-19 pandemic affected the price of bitcoin through indirect factors such as panic, and that the Russian-Ukrainian conflict affected the price of bitcoin by triggering the energy crisis in Europe.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Dongming Li
PY  - 2023
DA  - 2023/10/10
TI  - The impact of expected and unexpected factors on the price of Bitcoin
BT  - Proceedings of the 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023)
PB  - Atlantis Press
SP  - 395
EP  - 403
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-268-2_43
DO  - 10.2991/978-94-6463-268-2_43
ID  - Li2023
ER  -