Literature review on influencing factors of bitcoin price
| Author (Year) | Influencing factors | Main conclusions |
|---|---|---|
| Kristoufek (2013) | Investor sentiment | A statistically significant two-way relationship exists between bitcoin prices and Google trends, whereas the relationship between Wikipedia and bitcoin is not significant |
| van Wijk (2013) | Macroeconomic development indicators | A significant correlation exists between the price of bitcoin and macroeconomic indicators |
| Ciaian et al. (2014) | Page view of forum posts and Wikipedia | The page views of forum posts and Wikipedia have a significant impact on bitcoin prices |
| Polasik et al. (2015) | Amount and sentiment of news | The amount and sentiment of news affect the bitcoin yield |
| Dyhrberg (2015) | Gold, dollar, federal funds rate | The price of bitcoin is similar to that of the dollar and gold, and a significant correlation exists between the price of bitcoin and the federal funds rate |
| Hayes (2016) | Technical factors | The competition level of miners, unit output and the difficulty of encrypted currency mining algorithms affect the price of encrypted currency |
| Bouoiyour and Selmi (2015) | Stock market, etc. | Factors such as the stock market influence the price of bitcoin |
| Kristoufek (2014) | Speculation, etc. | Factors such as speculation have a significant impact on the bitcoin trading price under certain conditions |
| Author (Year) | Influencing factors | Main conclusions |
|---|---|---|
| Investor sentiment | A statistically significant two-way relationship exists between bitcoin prices and Google trends, whereas the relationship between Wikipedia and bitcoin is not significant | |
| Macroeconomic development indicators | A significant correlation exists between the price of bitcoin and macroeconomic indicators | |
| Page view of forum posts and Wikipedia | The page views of forum posts and Wikipedia have a significant impact on bitcoin prices | |
| Amount and sentiment of news | The amount and sentiment of news affect the bitcoin yield | |
| Gold, dollar, federal funds rate | The price of bitcoin is similar to that of the dollar and gold, and a significant correlation exists between the price of bitcoin and the federal funds rate | |
| Technical factors | The competition level of miners, unit output and the difficulty of encrypted currency mining algorithms affect the price of encrypted currency | |
| Stock market, etc. | Factors such as the stock market influence the price of bitcoin | |
| Speculation, etc. | Factors such as speculation have a significant impact on the bitcoin trading price under certain conditions |
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