Cryptocurrency(1)

           In recent years, cryptocurrencies have become quite popular in the world. However, this issue of cryptocurrency reliability is highly controversial.

            In addition cryptocurrency is used in many illegal trade on the deep web. These cryptocurrencies are used for illegal slave trade and drug.

            In addition to all these problems, one of the most important problems is why the cryptocurrency rises and falls. Many scholars have different opinions on this issue. However, the common view is that the ups and downs in bitcoin or cryptocurrencies do not depend on any physical factors.

            However, I think that this idea is not correct. I think that real economic activities play an important role in the rise and fall of bitcoin and other cryptocurrencies. I prepared a data set to test my idea. This data set includes data such as ripple and bitcoin. In addition, this data set includes data such as oil, dollar and gold.

           This data set covers June 2014 to August 2019. The values in this dataset were first translated into Turkish Lira and then normalized in R program. My results were different from the literature.

           Firstly, correlation analysis was performed. According to the results of the correlation analysis, there is a strong correlation between Bitcoin and USD and gold. In addition, there is also a correlation between oil and bitcoin. But this correlation is not strong like USD and gold.

           In addition to correlation analysis, linear regression analysis was performed. The results of linear regression analysis confirmed the results of correlation analysis. In linear regression analysis, USD was chosen as the dependent variable. Bitcoin was chosen as an independent variable.

           Linear regression analysis also shows that there is a significant relationship between Bitcoin and USD.