Crypto money applications in financial markets:Factors affecting crypto money prices

Depending on the development of technology, the prevalence of internet use and today's conditions play a major role in the spread of e-commerce. With this development, cryptocurrencies are also beginning to spread. It is defined as virtual coins that take advantage of cryptographic systems, which are not tied to a central authority, and whose security level is greater than that of other coins. With the increase in interest in these currencies, investors have started to create a new portfolio for themselves. In this study, the relationship between the gold and brent oil of the seven cryptocurrencies with high trading volume and high market value in the crypto money market is analyzed using the VAR model. Johansen cointegration tests and Granger causality tests are conducted to evaluate the relationships between the criteria. As a result of the study, it is predicted that crypto money can only be used as an investment alternative.