Effective Market Hypothysis and an Application on Crypto Money Markets

Turgay Münyas; Gülden Kadooğlu Aydın

Makale detayları

Effective Market Hypothysis and an Application on Crypto Money Markets

Yazarlar:

Turgay Münyas | Gülden Kadooğlu Aydın

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.7 Issue 3, pp.1203-1216

Belge Tipi:

Makale

Yayın Tarihi:

9/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001299879

pISSN:

2651-4192

Anahtar kelimeler:

Özet:

 The increasing popularity of the crypto money market, especially in recent times, has also triggered the interest in understanding the efficiency of the markets and the future price movements. This study examines the market activity of the 7 cryptocurrencies with the highest trading volume Bitcoin BTC, Binance Coin BNB, Cardano ADA, Dogecoin DOGE, Ethereum ETH, Tether USDT and Rippel XRP within the framework of Famas 1970 efficient markets hypothesis. In this way, it becomes possible to provide a solid foundation for better understanding the efficiency in crypto money markets and creating more reliable investment strategies for investors. In order to analyze the price behavior of the 7 cryptocurrencies examined in the research, the possibility of reaching reliable and robust results has been increased by making use of different advantages and different panel unit root tests. Findings from analytical techniques show that the 7 cryptocurrencies that make up the population of the research are not active in weak form, as they are not subject to a random walk process corresponding to a stationary process. Understanding the activity in the cryptocurrency markets will help investors make more informed decisions and enable them to manage financial risks more effectively.

 The increasing popularity of the crypto money market, especially in recent times, has also triggered the interest in understanding the efficiency of the markets and the future price movements. This study examines the market activity of the 7 cryptocurrencies with the highest trading volume Bitcoin BTC, Binance Coin BNB, Cardano ADA, Dogecoin DOGE, Ethereum ETH, Tether USDT and Rippel XRP within the framework of Famas 1970 efficient markets hypothesis. In this way, it becomes possible to provide a solid foundation for better understanding the efficiency in crypto money markets and creating more reliable investment strategies for investors. In order to analyze the price behavior of the 7 cryptocurrencies examined in the research, the possibility of reaching reliable and robust results has been increased by making use of different advantages and different panel unit root tests. Findings from analytical techniques show that the 7 cryptocurrencies that make up the population of the research are not active in weak form, as they are not subject to a random walk process corresponding to a stationary process. Understanding the activity in the cryptocurrency markets will help investors make more informed decisions and enable them to manage financial risks more effectively.

 The increasing popularity of the crypto money market, especially in recent times, has also triggered the interest in understanding the efficiency of the markets and the future price movements. This study examines the market activity of the 7 cryptocurrencies with the highest trading volume Bitcoin BTC, Binance Coin BNB, Cardano ADA, Dogecoin DOGE, Ethereum ETH, Tether USDT and Rippel XRP within the framework of Famas 1970 efficient markets hypothesis. In this way, it becomes possible to provide a solid foundation for better understanding the efficiency in crypto money markets and creating more reliable investment strategies for investors. In order to analyze the price behavior of the 7 cryptocurrencies examined in the research, the possibility of reaching reliable and robust results has been increased by making use of different advantages and different panel unit root tests. Findings from analytical techniques show that the 7 cryptocurrencies that make up the population of the research are not active in weak form, as they are not subject to a random walk process corresponding to a stationary process. Understanding the activity in the cryptocurrency markets will help investors make more informed decisions and enable them to manage financial risks more effectively.

 Kripto para piyasasının bilhassa son dönemlerde artan popülaritesi, piyasaların etkinliği ve geleceğe dair fiyat hareketlerinin anlaşılmasına yönelik ilgiyi de tetiklemişti. Bu çalışma, en yüksek işlem hacmine sahip 7 kripto para biriminin Bitcoin BTC, Binance Coin BNB, Cardano ADA, Dogecoin DOGE, Ethereum ETH, Tether USDT ve Rippel XRP piyasa üzerindeki etkinliğini Famanın 1970 etkin piyasalar hipotezi çerçevesinde incelemekte ve bu kripto paraların birim kök ve durağanlık yapılarına odaklanarak, piyasa üzerindeki etkinlik düzeyini anlamak ve gelecekteki fiyat hareketlerine dair bulgular elde etmektir. Bu sayede kripto para piyasalarında etkinliği daha iyi anlamak ve yatırımcılar için daha güvenilir yatırım stratejileri oluşturmak için sağlam bir temel sunmak mümkün hale gelebilmektedir. Araştırmada incelenen 7 kripto paranın fiyat davranışlarını analiz etmek amacıyla birbirine göre farklı avantajları ve bulunan farklı panel birim kök testlerinden faydalanılarak güvenilir ve sağlam sonuçlara ulaşma ihtimali arttırılmıştır. Analitik tekniklerden elde edilen bulgular araştırmanın anakütlesini oluşturan 7 kripto paranın rassal yürüş sürecine tabi olmamak durağan bir sürece karşılık gelmek suretiyle, zayıf formda etkin olmadığını göstermektedir. Kripto para piyasalarındaki etkinliğin anlaşılması, yatırımcıların daha bilinçli kararlar almasına yardımcı olacak ve finansal riskleri daha etkin bir şekilde yönetmelerini sağlayacaktır.

Makale detayları

Effective Market Hypothysis and an Application on Crypto Money Markets

Yazarlar:

Turgay Münyas | Gülden Kadooğlu Aydın

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.7 Issue 3, pp.1203-1216

Belge Tipi:

Makale

Yayın Tarihi:

9/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001299879

pISSN:

2651-4192

Cryptocurrencies

Efficient Market Hypothesis

Financial MarketsKripto Paralar

Etkin Piyasa Hipotezi

Finansal Piyasalar.

Sayı

Makale detayları

Effective Market Hypothysis and an Application on Crypto Money Markets

Yazarlar: Turgay Münyas | Gülden Kadooğlu Aydın

Yayıncı: Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar: Finans

Dergi: Alanya Akademik Bakış Vol.7 Issue 3, pp.1203-1216

Belge Tipi: Makale

Yayın Tarihi: 9/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001299879

pISSN: 2651-4192

Cryptocurrencies

Efficient Market Hypothesis

Financial MarketsKripto Paralar

Etkin Piyasa Hipotezi

Finansal Piyasalar.

Sayı

Yazarlar:

Turgay Münyas | Gülden Kadooğlu Aydın

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.7 Issue 3, pp.1203-1216

Belge Tipi:

Makale

Yayın Tarihi:

9/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001299879

pISSN:

2651-4192