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The Effect of News Media Coverage on the value of Bitcoin in 2017
Jönköping University, Jönköping International Business School, JIBS, Business Administration. (Group 44)
Jönköping University, Jönköping International Business School, JIBS, Business Administration. (Group 44)
2018 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

Current academic research on the price determinants of Bitcoin appears sprawling (Yermack, 2013; Dyhrberg, 2016). However, researchers have determined that there are intangible factors driving the value (Heyes, 2017; Blau, 2018). Research in other financial markets indicate news media coverage as potentially influencing price beyond theoretical value (Engelberg and Parsons, 2011). The main purpose of this paper is thus to identify whether news media coverage has an effect on the price of Bitcoin. This research is done in order to explore value determinators for Bitcoin. The null hypothesis, that news media articles have no correlation to Bitcoin price changes, is tested with a regression analysis correlating the abnormal returns for Bitcoin with amount of news media articles in three business newspapers. It can be concluded that there is a correlation between the abnormal returns of Bitcoin and the amount of news media articles published on a daily basis. However, the bi-directional nature may require future research to establish whether news media articles directly influence the price and not vice-versa

Place, publisher, year, edition, pages
2018.
Keywords [en]
Bitcoin
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hj:diva-40001ISRN: JU-IHH-FÖA-1-20180730OAI: oai:DiVA.org:hj-40001DiVA, id: diva2:1215085
Subject / course
JIBS, Business Administration
Presentation
2018-06-05, JIBS, 15:30 (English)
Supervisors
Examiners
Available from: 2018-07-02 Created: 2018-06-07 Last updated: 2018-07-02Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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  • Other locale
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Output format
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