Proceedings of the 4th Padang International Conference on Education, Economics, Business and Accounting (PICEEBA-2 2019)

<Previous Article In Volume
Next Article In Volume>

Causality of the Growth of Bitcoin Prices with Monetary Conditions in Indonesia

Authors
Hasdi Aimon, Hari Setia Putra, Farid Husein
Corresponding Author
Hasdi Aimon
Available Online 10 March 2020.
DOI
10.2991/aebmr.k.200305.083How to use a DOI?
Keywords
Bitcoin, monetary variable, vector auto regression
Abstract

Virtual currency has been a hot topic for discussion lately. One of the popular virtual currencies is bitcoin which has a status as a commodity in Indonesia today. The purpose of this study is to determine whether there is influence and causality between bitcoin and monetary variables in Indonesia. The study used time series data in monthly form March 2012 to July 2019. The study used Johnsen’s co integration test, vector auto regression estimation, granger causality test, forecasting with Impulse Response Function (IRF), and decomposition variance analysis. In this research, it is known that in the long run the growth of bitcoin prices, the exchange rate, inflation, the price of gold, and interest rates does not have balance and similarity in movement. Causally there is a direct relationship between the price of gold and the exchange rate with the consumer price index. In the VAR estimation it is known that bitcoin price growth affects the consumer price index in Indonesia, and the consumer price index affects the price of gold. In impulse response function forecasting there are positive and negative responses of each variable in the study of other variables. In decomposition variance analysis, it is known that the contribution of influence of a variable is more dominated by the variable itself when shock or shock occurs.

Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

<Previous Article In Volume
Next Article In Volume>
Volume Title
Proceedings of the 4th Padang International Conference on Education, Economics, Business and Accounting (PICEEBA-2 2019)
Series
Advances in Economics, Business and Management Research
Publication Date
10 March 2020
ISBN
10.2991/aebmr.k.200305.083
ISSN
2352-5428
DOI
10.2991/aebmr.k.200305.083How to use a DOI?
Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

risenwbib
TY  - CONF
AU  - Hasdi Aimon
AU  - Hari Setia Putra
AU  - Farid Husein
PY  - 2020
DA  - 2020/03/10
TI  - Causality of the Growth of Bitcoin Prices with Monetary Conditions in Indonesia
BT  - Proceedings of the 4th Padang International Conference on Education, Economics, Business and Accounting (PICEEBA-2 2019)
PB  - Atlantis Press
SP  - 300
EP  - 313
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200305.083
DO  - 10.2991/aebmr.k.200305.083
ID  - Aimon2020
ER  -