Crypto money in terms of money and finance theory: The Bitcoin example

With the development of technology, in recent years, there have been changes in the financial sector, as in every field, in order to respond to the constant and changing needs of the global age. A large of crypto currincies have been created in general and in private. For example, crypto currencies such as Etherum, Bitcoin Cash, Ripple have emerged. The most common of these is Bitcoin. In this context, the effects of cryptocurrencies, wich are increasing in popularity, on the financial system are mentioned. Crypto money mining and miners, which we often hear the name Blockchain, are also included in this study. In summary, Crypto currencies and Bitcoin will be handled and examined in this framework. Within the scope of this thesis study, the relationship between BTC/USD exhange rate, the highest transaction volume and the most valuable currencies and EUR/USD, JPY/USD, XAU/UDS, CNY/USD, PETROL/USD parities are examined for the period January 2017 and February 2021 applying the Granger causality test. According to the analysis results, it was found that there is a one-way causality from EUR / USD, JPY / USD, XAU / USD parity to BTC/USD parity. No causality relationship was found between the other parities and the Bitcoin.