The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic

This study aims to determine the effect of global price movements for energy sector commodities, especially Crude Oil and Natural Gas Prices, on cryptocurrency price movements. This study focuses more on the Bitcoin cryptocurrency. This study uses quantitative methods, and the data collection used i...

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Detalles Bibliográficos
Autores principales: Meiryani, Meiryani, Delvin Tandyopranoto, Caineth, Emanuel, Jason, Lindawati, A.S.L., Fahlevi, Mochammad, Aljuaid, Mohammed, Hasan, Fakhrul
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier 2022
Materias:
Research Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9557919/
https://www.ncbi.nlm.nih.gov/pubmed/36247132
http://dx.doi.org/10.1016/j.heliyon.2022.e10820
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author Meiryani, Meiryani
Delvin Tandyopranoto, Caineth
Emanuel, Jason
Lindawati, A.S.L.
Fahlevi, Mochammad
Aljuaid, Mohammed
Hasan, Fakhrul
author_facet Meiryani, Meiryani
Delvin Tandyopranoto, Caineth
Emanuel, Jason
Lindawati, A.S.L.
Fahlevi, Mochammad
Aljuaid, Mohammed
Hasan, Fakhrul
author_sort Meiryani, Meiryani
collection PubMed
description This study aims to determine the effect of global price movements for energy sector commodities, especially Crude Oil and Natural Gas Prices, on cryptocurrency price movements. This study focuses more on the Bitcoin cryptocurrency. This study uses quantitative methods, and the data collection used is secondary data with weekly data and the period from January 1, 2020–July 31, 2021. The number of observations used in this study amounted to 79 observations. Secondary data sources are obtained through the website finance.yahoo.com. The data processing technique will be carried out using Stata and SPSS software, the Multiple Linear Regression method, and the Classical Assumption Test. The results of this study show that global prices for energy sector commodities, especially Crude Oil, Natural Gas, have a positive effect on Bitcoin price movements. These results indicate a link between energy and Bitcoin caused by Bitcoin miners who are mining Bitcoin using energy so that when the price of Bitcoin rises, the price of energy will also increase.
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spelling pubmed-95579192022-10-14 The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic Meiryani, Meiryani Delvin Tandyopranoto, Caineth Emanuel, Jason Lindawati, A.S.L. Fahlevi, Mochammad Aljuaid, Mohammed Hasan, Fakhrul Heliyon Research Article This study aims to determine the effect of global price movements for energy sector commodities, especially Crude Oil and Natural Gas Prices, on cryptocurrency price movements. This study focuses more on the Bitcoin cryptocurrency. This study uses quantitative methods, and the data collection used is secondary data with weekly data and the period from January 1, 2020–July 31, 2021. The number of observations used in this study amounted to 79 observations. Secondary data sources are obtained through the website finance.yahoo.com. The data processing technique will be carried out using Stata and SPSS software, the Multiple Linear Regression method, and the Classical Assumption Test. The results of this study show that global prices for energy sector commodities, especially Crude Oil, Natural Gas, have a positive effect on Bitcoin price movements. These results indicate a link between energy and Bitcoin caused by Bitcoin miners who are mining Bitcoin using energy so that when the price of Bitcoin rises, the price of energy will also increase. Elsevier 2022-09-29 /pmc/articles/PMC9557919/ /pubmed/36247132 http://dx.doi.org/10.1016/j.heliyon.2022.e10820 Text en © 2022 The Author(s) https://creativecommons.org/licenses/by/4.0/This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
spellingShingle Research Article
Meiryani, Meiryani
Delvin Tandyopranoto, Caineth
Emanuel, Jason
Lindawati, A.S.L.
Fahlevi, Mochammad
Aljuaid, Mohammed
Hasan, Fakhrul
The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic
title The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic
title_full The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic
title_fullStr The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic
title_full_unstemmed The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic
title_short The effect of global price movements on the energy sector commodity on bitcoin price movement during the COVID-19 pandemic
title_sort effect of global price movements on the energy sector commodity on bitcoin price movement during the covid-19 pandemic
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9557919/
https://www.ncbi.nlm.nih.gov/pubmed/36247132
http://dx.doi.org/10.1016/j.heliyon.2022.e10820
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