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Effect of Bitcoin Volatility on Altcoins Pricing

2020; Springer Nature; Linguagem: Inglês

10.1007/978-3-030-63322-6_55

2194-5357

Artur Meynkhard,

Impact of AI and Big Data on Business and Society

The study presents collected data on cryptocurrency prices' average growth rates and average rates of decline in relation to Bitcoin price volatility. An analysis was conducted, which researched the correlation of Bitcoin price in conjunction with other cryptocurrencies, such as Litecoin, Ethereum, Bitcoin Cash, Dash and Monero. This analysis confirmed the absolute correlation of Bitcoin and its prices with altcoins. Average positive and negative growth rates of altcoins in relation to Bitcoin were determined and identified. Results illustrate that out of the sampled five cryptocurrencies, only three demonstrate substantial price growth rates in comparison with Bitcoin. This research can have a significant impact on the formation of diversified portfolios of crypto-assets, increasing the awareness and knowledge of market participants, and, furthermore, allow them to more effectively control investment risks. #COMESYSO1120.