Long-term nexus of macroeconomic and financial fundamentals with cryptocurrencies
We investigate the long-term impact of macroeconomic and financial factors on cryptocurrency metrics using both parametric and non-parametric methods. Our analysis examines how these factors influence cryptocurrency prices, market capitalizations, and Bitcoin’s hash rate. The results establish that...
Saved in:
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Frontiers Media S.A.
2025-03-01
|
| Series: | Frontiers in Blockchain |
| Subjects: | |
| Online Access: | https://www.frontiersin.org/articles/10.3389/fbloc.2025.1550720/full |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1849338313376268288 |
|---|---|
| author | Panayiotis M. Pourpourides |
| author_facet | Panayiotis M. Pourpourides |
| author_sort | Panayiotis M. Pourpourides |
| collection | DOAJ |
| description | We investigate the long-term impact of macroeconomic and financial factors on cryptocurrency metrics using both parametric and non-parametric methods. Our analysis examines how these factors influence cryptocurrency prices, market capitalizations, and Bitcoin’s hash rate. The results establish that two key factors, the US dollar and the price of gold, adversely affect Bitcoin and other cryptocurrency metrics, including the prices and market capitalizations of decentralized finance and layer-one protocols. Bitcoin’s hash rate demonstrates greater market sensitivity than its price, with the dollar having a stronger impact on Bitcoin than gold. The dollar primarily affects Bitcoin’s price, whereas gold mainly influences its hash rate. These findings, along with Bitcoin’s properties, support the view of Bitcoin as a digital asset analogous to physical gold, playing a role similar to a substitute for the latter. |
| format | Article |
| id | doaj-art-cda3d4c3ffe84b3e8fafae4f754046a4 |
| institution | Kabale University |
| issn | 2624-7852 |
| language | English |
| publishDate | 2025-03-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Blockchain |
| spelling | doaj-art-cda3d4c3ffe84b3e8fafae4f754046a42025-08-20T03:44:27ZengFrontiers Media S.A.Frontiers in Blockchain2624-78522025-03-01810.3389/fbloc.2025.15507201550720Long-term nexus of macroeconomic and financial fundamentals with cryptocurrenciesPanayiotis M. PourpouridesWe investigate the long-term impact of macroeconomic and financial factors on cryptocurrency metrics using both parametric and non-parametric methods. Our analysis examines how these factors influence cryptocurrency prices, market capitalizations, and Bitcoin’s hash rate. The results establish that two key factors, the US dollar and the price of gold, adversely affect Bitcoin and other cryptocurrency metrics, including the prices and market capitalizations of decentralized finance and layer-one protocols. Bitcoin’s hash rate demonstrates greater market sensitivity than its price, with the dollar having a stronger impact on Bitcoin than gold. The dollar primarily affects Bitcoin’s price, whereas gold mainly influences its hash rate. These findings, along with Bitcoin’s properties, support the view of Bitcoin as a digital asset analogous to physical gold, playing a role similar to a substitute for the latter.https://www.frontiersin.org/articles/10.3389/fbloc.2025.1550720/fullJEL classification codes: E44G10G12G19 blockchainbitcoincrypto |
| spellingShingle | Panayiotis M. Pourpourides Long-term nexus of macroeconomic and financial fundamentals with cryptocurrencies Frontiers in Blockchain JEL classification codes: E44 G10 G12 G19 blockchain bitcoin crypto |
| title | Long-term nexus of macroeconomic and financial fundamentals with cryptocurrencies |
| title_full | Long-term nexus of macroeconomic and financial fundamentals with cryptocurrencies |
| title_fullStr | Long-term nexus of macroeconomic and financial fundamentals with cryptocurrencies |
| title_full_unstemmed | Long-term nexus of macroeconomic and financial fundamentals with cryptocurrencies |
| title_short | Long-term nexus of macroeconomic and financial fundamentals with cryptocurrencies |
| title_sort | long term nexus of macroeconomic and financial fundamentals with cryptocurrencies |
| topic | JEL classification codes: E44 G10 G12 G19 blockchain bitcoin crypto |
| url | https://www.frontiersin.org/articles/10.3389/fbloc.2025.1550720/full |
| work_keys_str_mv | AT panayiotismpourpourides longtermnexusofmacroeconomicandfinancialfundamentalswithcryptocurrencies |