Assessment of Various Factors Impact on Cryptocurrency Functioning using Economic and Mathematical Modeling

E. V. Chaykina, E. A. Posnaya, B. A. Bukach

2021

Abstract

This article has developed an economic and mathematical model that reflects the dependence of the cryptocurrency rate on factors of an exploratory nature. At present, an interesting and promising area of research is exploratory analysis, the economic meaning of which is to study the influence of sudden factors on the final result. Against the backdrop of the development of modern technologies in the world, taking into account the depreciation of the US dollar and the withdrawal of investors from the stock markets, the cryptocurrency market is considered one of the most promising and most influenced by exploratory factors. The cryptocurrency rate is based on economic expectation, and not on the availability of real assets. The article discusses the main indicators that affect the cryptocurrency rate, using the example of Bitcoin. An economic-mathematical model of the dependence of the price of bitcoin on a number of the most significant indicators is built. The economic and mathematical model proposed in the study allows you to take into account the degree of influence of exploratory factors on the formed cryptocurrency rate. The developed model will allow the most accurate prediction of the cryptocurrency rate in modern financial and economic conditions, since it takes into account exploratory factors.

Paper Citation

in Harvard Style

Chaykina E., Posnaya E. and Bukach B. (2021). Assessment of Various Factors Impact on Cryptocurrency Functioning using Economic and Mathematical Modeling. In Proceedings of the 1st International Scientific Forum on Sustainable Development of Socio-economic Systems - Volume 1: WFSDS, ISBN 978-989-758-597-5, pages 130-137. DOI: 10.5220/0010665000003223

in Bibtex Style

@conference{wfsds21,
author={E. V. Chaykina and E. A. Posnaya and B. A. Bukach},
title={Assessment of Various Factors Impact on Cryptocurrency Functioning using Economic and Mathematical Modeling},
booktitle={Proceedings of the 1st International Scientific Forum on Sustainable Development of Socio-economic Systems - Volume 1: WFSDS,},
year={2021},
pages={130-137},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010665000003223},
isbn={978-989-758-597-5},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Scientific Forum on Sustainable Development of Socio-economic Systems - Volume 1: WFSDS,
TI - Assessment of Various Factors Impact on Cryptocurrency Functioning using Economic and Mathematical Modeling
SN - 978-989-758-597-5
AU - Chaykina E.
AU - Posnaya E.
AU - Bukach B.
PY - 2021
SP - 130
EP - 137
DO - 10.5220/0010665000003223