2020•Noble International Journal of Economics and Financial ResearchRequires access
Can Bitcoin’S Price Be A Predictor Of Stock Prices?
Yutaka Kurihara, Akio Fukushima, Shinichiro Maeda
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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.