Proceedings of The 4th International Conference on Advanced Research in Management, Business and Finance
Year: 2022
DOI:
[Fulltext]
An Empirical Three Phase Analysis of Crypto Market
Aditya Thakur, Rahul Verma
ABSTRACT:
This paper provides an in-depth analysis of cryptocurrency, especially bitcoin. This research also covers the development and growth of cryptocurrency over the last 12 years. An increase in number of block chain wallet users from year 2011 to 2022 is provided graphically. It was also reported that the market capitalization of crypto market increased rapidly and is given in this paper. Ranking list of top five countries with highest number of crypto users is an additional asset in this research. The prime focus of this research is to carry out three phases analysis of bitcoin in pre-covid phase, covid phase and post-covid phase. The price trend of bitcoin is given for both post-covid and covid phase graphically. Post-covid phase includes an estimate the behavior of bitcoin price in the upcoming years. This estimate is provided on the basis of mathematical calculations, its price trend in previous years and future investments. This paper also tried to provide an approximate value of bitcoin by the end of financial year 2024.
keywords: Bitcoin, Crypto market, Crypto currency and Covid 19.