A research on crypto coins and international trade: bibliometric, LSTM and cluster analysis

Cryptocurrencies that use blockchain technology with the potential to change business processes have initiated a transformation and change in the global economy. This transformation covers a wide area from international economic transactions to electronic government applications. Today, the first stages of the process in which business models and corporate structures will be redesigned are taking place. The purpose of this thesis is to measure how cryptocurrencies are accepted in international trade. An indication of how much cryptocurrency is used in international economic transactions is the production of academic researc about cryptocurrency. In this context; in this thesis, it is aimed to analyze the academic literature about cryptocurrency and to analyze the production of academic information about cryptocurrency usage. In the literature review, it was seen that the publications for the volatility in the prices of cryptocurrency constitute the majority. Therefore, measuring the predictability level of the prices of cryptocurrencies is another target of this thesis. Finally, it is aimed to examine the cluster structure formed by cryptocurrencies according to price movements. The extreme volatility of the cryptocurrency market has created the need to focus on the price movement. The cryptocurrency ecosystem has been analyzed and forecasts of leading cryptocurrencies are made. Therefore, estimates were made with the LSTM network. With the hierarchical clustering approaches, selected cryptocurrencies are analyzed according to daily price movements. From these analyses, it was tried to determine the price prediction of cryptocurrencies with the LSTM network and the cryptocurrencies that are similar or not similar in terms of price movements with clustering. Clusters of the leading cryptocurrencies of the market have been made according to two different scenarios and Bitcoin has distinguished from the others in the grouping of the selected cryptocurrencies that are leading by market value. According to the research findings; in the price prediction of selected currencies in the crypto market, a high level of accuracy can be achieved. The cryptocurrency market claims to change many lines of business and has the potential to achieve this through technological developments. As a result of bibliometric analysis; universities in Turkey, researchers and the funds are not in the first place in publications made about on international trade and cryptocurrency ecosystem. The conversion process that started with Bitcoin; is accelerating in many areas, especially in international trade, health and finance. Entering this new world of technology may have economic costs for being late. Lawmakers, for the best interest of the country, should see potential risk and benefits early by supporting research into the potential of distributed ledger technology. This study, which examines the cryptocurrency ecosystem, ignored some variables that may have different effects. Therefore, it is recommended to investigate different variables that may affect the forecast performance of cryptocurrencies in the future. In this study, analyses were made to understand the new economic model that started with cryptocurrency. Analysis findings are expected to guide crypto investors.