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The Price Determinants of Bitcoin as a New Digital Form of Money
P. 784–792.
Rutskiy V., Javed S., Azizam S. H., Chudopal N., Zhigalov K., Kuzmich R., Pupkov A., Tsarev R.
The paper is devoted to the study of the properties of cryptocurrency similar to the properties of money by the example of the analysis of bitcoin price determinants. The authors simulate the market price of bitcoin to establish the interconnection of the bitcoin exchange rate with the demand factors for world reserve currencies using regression analysis tools. The simulation results suggest that bitcoin has the properties of a new form of digital money. Among the pricing factors, the RMB as a national currency of China, a country that is one of the main Bitcoin issuing centers in the world, is of particular importance.
In book
Vol. 1. , Springer, 2020.
Rutskiy V., Sudhir A., Elkin S. et al., , in: Software Engineering Application in Systems Design: Proceedings of 6th Computational Methods in Systems and Software 2022, Volume 1Vol. 596.: Cham: Springer, 2023. Ch. 70 P. 805–816.
The paper examines the pricing factors for non-fungible tokens (NFT) as a new class of blockchain-based cryptocurrency assets originally associated with unique digital art. One of the key challenges of the digital art industry is the problem of monetization and popularization of digital art objects. NFT can be a solution to the problem of financing ...
Added: October 7, 2026
Usvitskiy A., Mizyakov V., / Series "SSRN Working Paper Series". 2026.
Added: September 24, 2026
Buchko A., Peresetsky A., HSE Economic Journal 2025 Vol. 29 No. 3 P. 383–406
In recent years cryptocurrencies have gained popularity: institutional and retail investors as well as different trading companies started positively looking at crypto assets. As a result, the convergence level between cryptocurrencies and the traditional markets has changed a lot. Stocks deserve close attention because they are a key asset for many investors. This article explores ...
Added: September 17, 2026
Токолов А. В., Идрисов Р. Р., Криминологический журнал 2026 № 2 С. 168–176
Provides a comparative legal analysis of the qualification of cryptocurrency offences in the Russian Federation and the Republic of Uzbekistan. Three levels of regulation are examined, namely the qualification of illegal mining, unlicensed cryptocurrency circulation, and procedural mechanisms for the seizure of digital assets. It is established that the absence of specialised criminal charges in ...
Added: August 19, 2026
Salamatov V., Базелюк В. Н., Бизнес. Общество. Власть 2025 № 3 (57) С. 218–238
The article is dedicated to analyzing the experience of the Islamic Republic of Iran under prolonged sanction pressure that has been ongoing since 1979. The main focus is on three key aspects: historical stages of sanctions implementation, their impact on the economy, politics, and social sphere of the country, as well as Iran's methods of ...
Added: February 13, 2026
Volkova O. N., Финансы: теория и практика 2025 Т. 29 № 5 С. 21–33
Cryptocurrencies are a type of financial instrument that has been widely used by financial market participants since
the early 2010s. Despite their growing popularity, their status within financial systems across different countries
remains a topic of ongoing discussion. There is still no consensus on how to best understand the economic nature of
these digital assets. This paper uses ...
Added: November 5, 2025
Khusainov G., Теоретическая и прикладная юриспруденция 2026 № 1 С. 184–197
Introduction. The swift evolution of digital asset technologies continues to outpace the development of comprehensive regulatory frameworks. In this context of legislative gaps, court rulings play a pivotal role in shaping the legal status of cryptocurrencies and mining, underscoring the relevance of a comparative analysis of their impact across different legal systems.
Methodology and materials. This ...
Added: October 28, 2025
Mansurov K., Semenov A., Dmitry Grigoriev et al., Computational Economics 2024 Vol. 64 P. 2585–2603
In this paper, we consider the approach of applying state-of-the-art machine learning
algorithms to simulate some financial markets. In this case, we choose the cryptocurrency market based on the assumption that such markets more active today. As
a rule, they have more volatility, attracting riskier traders. Considering classic trading strategies, we also introduce an agent with a ...
Added: July 11, 2025
Teterin M., Peresetsky A., Applied Econometrics 2025 Vol. 77 P. 74–90
Bitcoin and Ethereum are the two world’s largest cryptocurrencies. Their market capitalizations have recently peaked, making them more attractive to portfolio investors. As the cryptocurrency market is known for its high volatility nature, government institutions are also interested in this segment of the financial market for more comprehensive regulation. Volatility forecasting is a crucial part ...
Added: April 22, 2025
Teterin M., Peresetsky A., The Journal of the New Economic Association 2024 Vol. 4 P. 118–135
Since the introduction of Bitcoin in 2008, the size of the cryptocurrency market is becoming increasingly important for investors. Thus, the forecast of cryptocurrency price volatility is of particular interest to portfolio investors, as they are interested in accurately estimating the standard deviation of their portfolios to calculate the Value-at- Risk (VaR) as a risk ...
Added: January 21, 2025
Pushkarev V. V., Skachko A. V., Gaevoy A. I. et al., Revista Electrónica de Investigación en Ciencias Económicas 2022 Vol. 10 No. 19 P. 111–125
The analysis of statistical data and other figures on particular criminal cases in Russia indicate that the resources of the financial system attract criminals. Annually, the number of such crimes grows while cryptocurrency and other digital assets or rights become an object or means for committing a crime. The risk of such crimes increases as ...
Added: January 9, 2025
Manevich V., Lobachevskii Journal of Mathematics 2024 Vol. 45 No. 3 P. 1194–1206
Added: September 5, 2024
Pastukhov E., Journal of Corporate Finance Research 2024 Vol. 18 No. 2
Added: July 24, 2024
Lebedeva S., Харченко Д. Е., Дьяконов А. Д. et al., Информатизация в цифровой экономике 2023 Т. 4 № 2 С. 167–182
Recently, non-fungible token (NFT) technology has gained widespread adoption and has become an integral part of the cryptocurrency world. This raises the question of how this technology can be used to develop other industries, such as sports and tourism. In this article, we explore the potential of using NFTs as a tool for sports and ...
Added: May 7, 2024
Aleksey Nikolaevich Lyaskalo, Legal Issues in the Digital Age 2023 Vol. 4 No. 4 P. 48–67
The approval of new legislative acts regulating the financial assets in digital form, including digital rights, digital currencies and the digital ruble, gives grounds for rethinking their legal status and influence on the sphere of criminal law enforcement. The purpose of the study is to identify the legal nature of financial assets in digital form, ...
Added: December 26, 2023
Natalia Sizykh, Said Dandamaev, Dmitry Sizykh, , in: 16th International Conference Management of large-scale system development (MLSD).: IEEE, 2023. P. 1–5.
Forecasting data and research on cryptocurrency price forecasting methods are increasing in importance. So far, methods based on LSTM deep learning architecture have shown the best results in forecasting cryptocurrency prices. In order to improve the accuracy of forecasting data, this paper investigates the application of a multivariate multistep forecasting method based on the LSTM ...
Added: December 22, 2023
Stablecoins as the cornerstone in the linkage between the digital and conventional financial markets
Gubareva M., Bossman A., Teplova T., North American Journal of Economics and Finance 2023 Vol. 68 Article 101979
Do stablecoins mean anything to risk management across financial markets? We answer this question by examining the interrelationships between stocks, treasuries, stablecoins, and cryptocurrencies in nonparametric quantile-causality-in-means and quantile-on-quantile regression models. Differently from previous studies of stablecoins’ price volatility, we focus on stablecoins’ trade volumes. The results extend the evidence on stablecoins’ responses to other crypto assets, whose declining ...
Added: July 24, 2023
Stolbov M., Shchepeleva M., Journal of Finance and Data Science 2023 Vol. 9 Article 100095
The paper aims to indentify and compare the determinants of the overall FinTech market expansion and its major segments – cryptocurrency and peer-to-peer lending markets – in a dataset, which covers 64 countries and 51 potentially relevant factors. To this end, we apply a battery of state-of-the-art variable selection techniques from machine learning, comprising Bayesian model averaging (BMA), least absolute shrinkage ...
Added: June 16, 2023
Аганин А. Д., Manevich V., Peresetsky A. et al., Экономический журнал Высшей школы экономики 2023 Т. 27 № 1 С. 49–77
The article compares GARСH and HAR models for 1 day ahead forecasting performance of the realized volatility of financial series. As an example, the cryptocurrency with the largest capitalization, Bitcoin, was chosen. Its realized volatility is calculated from intraday (24 hours) data, using the closing values of five-minute trading intervals. The paper proposes a method ...
Added: March 13, 2023
Victoria Dobrynskaya, Journal of Alternative Investments 2023 Vol. 26 No. 1 P. 65–76
We consider a variety of highly-diversified cross-sectional momentum and reversal strategies, with sorting and holding periods from 1 week up to 2 years. In a sample of 2,000 biggest cryptocurrencies during 2014-2020, we identify a positive momentum on short horizons up to 2-4 weeks and a significant reversal on longer horizons beyond 1 month. The ...
Added: January 31, 2023
Victoria Dobrynskaya, Dubrovskiy M., International Finance Review 2023 Vol. 22 P. 95–111
We consider a variety of cryptocurrency and equity risk factors as potential forces that drive cryptocurrency returns and carry risk premiums. In a cross-section of 2,000 biggest cryptocurrencies during 2014-2020, only downside market risk, cryptocurrency size and policy uncertainty factors are systematically priced with significant premiums. Cryptocurrencies, which have greater exposures to these factors, yield ...
Added: January 31, 2023