The Study of the Query Index Influence on the Bitcoin Exchange Rate

Student: Ketova Kseniya

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2019

Recent events associated with the emergence of cryptocurrency and an incredible increase in its prices have created a field to study dynamics of this new financial market sector. Cryptocurrency pricing is a crucial question in this field. The purpose of this study is to identify the influence of the query index in Google (Google Trends service) on the bitcoin exchange rate. The study proved that the volume of search queries, which is a proxy for a change in collective attention, leads to price movements in the market. This paper attempts to take a deeper approach to using data from Google search. As a result, the model demonstrates higher quality scores and identifies a significant lagged effect of the variable under consideration.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses