ISBN: 978-981-11-3671-9 DOI: 10.18178/wcse.2017.06.228
Analysis of Domestic Bitcoin Market Based on Granger Causality Test and Regression Analysis
Abstract— Domestic bitcoin trading volume, which represents the current situation of domestic bitcoin market,
is used to analyze it together with a variety of variables. After all the variables pass the stationarity test and
co-integration test, the Granger causality test and the regression analysis are used to analyze the status of the
domestic bitcoin market. According to Granger causality test, there is no evidence that bitcoin prices can affect
the development of domestic bitcoin market. According to the regression analysis, it can be seen that the bitcoin
stock, the circulation of RMB and the exchange rate of USD to RMB are positively related to the bitcoin
transaction volume, and the improvement of the bitcoin market environment will suppress the bitcoin
transaction.
Index Terms— bitcoin, granger causality test, regression analysis, market environment
Si Chen, Lingli Duan, Wenyi Zhang, Jiayuan Zhang, Chanjuan Xiao
1Beijing University of Posts and Telecommunications No.10 Xi Tu Cheng Road, Haidian District, CHINA
ISBN: 978-981-11-3671-9 DOI: 10.18178/wcse.2017.06.17Xsrc="http://www.wcse.org/uploadfile/2019/0823/20190823055609629.png" style="width: 120px; height: 68px;" />[Download]
Cite: Si Chen, Lingli Duan, Wenyi Zhang, Jiayuan Zhang, Chanjuan Xiao, "Analysis of Domestic Bitcoin Market Based on Granger Causality Test and Regression Analysis," Proceedings of 2017 the 7th International Workshop on Computer Science and Engineering, pp. 1314-1318, Beijing, 25-27 June, 2017.