Association Rule Analysis of Bitcoin with BIST100 Index, Gold, Silver, Dollar, Crude Oil and Brent Oil Variables

Şengül Can

Makale detayları

Association Rule Analysis of Bitcoin with BIST100 Index, Gold, Silver, Dollar, Crude Oil and Brent Oil Variables

Yazarlar:

Şengül Can

Yayıncı:

Manisa Celal Bayar University

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler | Makro İktisat (Diğer)

Dergi:

Yönetim ve Ekonomi Dergisi Vol.32 Issue 3, pp.585-619

Belge Tipi:

Makale

Yayın Tarihi:

9/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001358279

pISSN:

1302-0064

Anahtar kelimeler:

Özet:

 Today, thanks to technological developments, Bitcoin has been added to values such as money, gold, silver used for the purchase of goods or services. Bitcoin does not depend on a central authority. However, it can be exchanged into currencies such as Turkish Lira, Dollars and Euros at any time. Today, the instruments preferred by investors are of critical importance. It will be useful for the individual investor to know which macroeconomic variables act together when making an investment choice. This study investigates whether Bitcoin and the most widely used 100 index of Borsa Istanbul BIST100, gold, silver, Dollar, Crude Oil and Brent Oil, which represent the Turkish economy, move together. In the first part of the study, the association rules of the BIST100 Index with gold, silver, Dollar, Crude Oil and Brent Oil were analyzed. In the second part, Bitcoin was added to these variables. According to the results, in the first group, which does not include Bitcoin, the BIST100 index moves most with Gold, Crude Oil and Brent Oil, Dollar pairs. In the second group, where Bitcoin is included, it was observed that Bitcoin moved mostly with the pair of Crude Oil and gold. As a result, it was found that Bitcoin, which does not depend on a central authority, is not completely independent from global economic movements. Key Words: BIST100, Bitcoin, Investment, Association Rule, Data Mining JEL Classification: C40, C55, E20.

 Today, thanks to technological developments, Bitcoin has been added to values such as money, gold, silver used for the purchase of goods or services. Bitcoin does not depend on a central authority. However, it can be exchanged into currencies such as Turkish Lira, Dollars and Euros at any time. Today, the instruments preferred by investors are of critical importance. It will be useful for the individual investor to know which macroeconomic variables act together when making an investment choice. This study investigates whether Bitcoin and the most widely used 100 index of Borsa Istanbul BIST100, gold, silver, Dollar, Crude Oil and Brent Oil, which represent the Turkish economy, move together. In the first part of the study, the association rules of the BIST100 Index with gold, silver, Dollar, Crude Oil and Brent Oil were analyzed. In the second part, Bitcoin was added to these variables. According to the results, in the first group, which does not include Bitcoin, the BIST100 index moves most with Gold, Crude Oil and Brent Oil, Dollar pairs. In the second group, where Bitcoin is included, it was observed that Bitcoin moved mostly with the pair of Crude Oil and gold. As a result, it was found that Bitcoin, which does not depend on a central authority, is not completely independent from global economic movements. Key Words: BIST100, Bitcoin, Investment, Association Rule, Data Mining JEL Classification: C40, C55, E20.

 Today, thanks to technological developments, Bitcoin has been added to values such as money, gold, silver used for the purchase of goods or services. Bitcoin does not depend on a central authority. However, it can be exchanged into currencies such as Turkish Lira, Dollars and Euros at any time. Today, the instruments preferred by investors are of critical importance. It will be useful for the individual investor to know which macroeconomic variables act together when making an investment choice. This study investigates whether Bitcoin and the most widely used 100 index of Borsa Istanbul BIST100, gold, silver, Dollar, Crude Oil and Brent Oil, which represent the Turkish economy, move together. In the first part of the study, the association rules of the BIST100 Index with gold, silver, Dollar, Crude Oil and Brent Oil were analyzed. In the second part, Bitcoin was added to these variables. According to the results, in the first group, which does not include Bitcoin, the BIST100 index moves most with Gold, Crude Oil and Brent Oil, Dollar pairs. In the second group, where Bitcoin is included, it was observed that Bitcoin moved mostly with the pair of Crude Oil and gold. As a result, it was found that Bitcoin, which does not depend on a central authority, is not completely independent from global economic movements. Key Words: BIST100, Bitcoin, Investment, Association Rule, Data Mining JEL Classification: C40, C55, E20.

 Mal veya hizmet alımı için kullanılan para, altın, gümüş gibi değerlere günümüzde teknolojik gelişmeler sayesinde Bitcoinde eklenmiştir. Bitcoin merkezi bir otoriteye bağlı değildir. Ancak istenildiği her an Türk Lirası, Dolar, Euro gibi para birimlerine dönüştürülebilmektedir. Günümüzde hangi yatırım aracının tercih edileceği ise yatırımcılar için kritik öneme sahiptir. Yatırım tercihi yaparken hangi makroekonomik değişkenlerin birlikte hareket ettiğinin bilinmesi bireysel yatırımcı için faydalı olacaktır. Bu çalışmada Bitcoin ile Türkiye Ekonomisini temsil eden Borsa İstanbulun en çok kullanılan 100 endeksi BIST100, altın, gümüş, Dolar, Ham Petrol ve Brent Petrolün birlikte hareket edip etmediği araştırılmıştır. Araştırmanın birinci bölümünde BIST100 Endeksinin altın, gümüş, Dolar, Ham Petrol ve Brent Petrol ile olan birliktelik kuralları incelenmiştir. İkinci bölümde ise bu değişkenlere Bitcoin eklenmiştir. Elde edilen sonuçlara göre Bitcoin dahil edilmeyen ilk grupta BIST100 endeksinin en fazla altın, Ham Petrol ve Brent Petrol, Dolar ikilileriyle hareketi olduğu görülmüştür. Bitcoin dahil edilen ikinci grupta Bitcoinin en çok Ham Petrol, altın ikilisiyle birlikte hareketi olduğu görülmüştür. Elde edilen sonuçlara göre merkezi bir otoriteye bağlı olmayan Bitcoinin küresel ekonomik hareketlerden tamamen bağımsız olmadığı görülmüştür. Anahtar Kelimeler: BIST100, Bitcoin, Yatırım, Birliktelik Kuralı, Veri Madenciliği JEL Sınıflandırması: C40, C55, E20.

Makale detayları

Association Rule Analysis of Bitcoin with BIST100 Index, Gold, Silver, Dollar, Crude Oil and Brent Oil Variables

Yazarlar:

Şengül Can

Yayıncı:

Manisa Celal Bayar University

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler | Makro İktisat (Diğer)

Dergi:

Yönetim ve Ekonomi Dergisi Vol.32 Issue 3, pp.585-619

Belge Tipi:

Makale

Yayın Tarihi:

9/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001358279

pISSN:

1302-0064

Bist100

Bitcoin

Investment

Association Rule

Data MiningBist100

Bitcoin

Yatırım

Birliktelik Kuralı

Veri Madenciliği

Sayı

Makale detayları

Yazarlar: Şengül Can

Yayıncı: Manisa Celal Bayar University

Ana Başlıklar: Ekonometrik ve İstatistiksel Yöntemler | Makro İktisat (Diğer)

Dergi: Yönetim ve Ekonomi Dergisi Vol.32 Issue 3, pp.585-619

Belge Tipi: Makale

Yayın Tarihi: 9/2025

Belge Dili: Türkçe

Document ID (Org No.): 2001358279

pISSN: 1302-0064

Sayı

Yazarlar:

Şengül Can

Yayıncı:

Manisa Celal Bayar University

Ana Başlıklar:

Ekonometrik ve İstatistiksel Yöntemler | Makro İktisat (Diğer)

Dergi:

Yönetim ve Ekonomi Dergisi Vol.32 Issue 3, pp.585-619

Belge Tipi:

Makale

Yayın Tarihi:

9/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001358279

pISSN:

1302-0064