International Journal of Business and Quality Research
Vol. 2 No. 01 (2024): January - March, International Journal of Business and Quality Research (IJBQR

The Influence of Cryptocurrency on Indonesian Stock Market

M. Surya Patamorgana (Department Accounting, Mataram University, Indonesia)
Robith Hudaya (Department Accounting, Mataram University, Indonesia)



Article Info

Publish Date
01 Mar 2024

Abstract

This research aims to examine the influence of cryptocurrencies on stock market prices in Indonesia. This research uses multiple regression analysis using daily tme series data from 2020-2022 so that the number of observations in this research is 1096. The findings in this research show mixed results between cryptocurrency assets and stock market prices in Indonesia. From the research results, Bitcoin does not have a significant influence on stock market prices in Indonesia, while Ethereum and Binance Coin have a positive and significant influence, but this is different from Maker and Pax Gold. Maker and Pax Gold have a negative and significant influence on stock market prices. The findings in this research show that the nature of the influence of cryptocurrency on stock market prices in Indonesia is not the same but depends on the cryptocurrency asset itself. The findings in this research suggest that investors and market players need to consider these two assets together in their investment strategies.

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Journal Info

Abbrev

IJBQR

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

International Journal of Business,and Quality research (IJBQR) is a high quality open access peer reviewed research journal. providing a platform for the researchers, academicians, professional, practitioners and students to impart and share knowledge in the form of high quality empirical and ...