KRİPTO PARA PİYASASINDA ETKİN PİYASA HİPOTEZİNİN İNCELENMESİ

Yıl 2021, Cilt: 3 Sayı: 2, 75 - 90, 30.11.2021

Alper Aslan , Bilge Çipe

Öz

Kripto paralar piyasaya çıktığından bu yana yatırımcıların ve devletlerin dikkatini çekmiştir. Son yıllarda birçok araştırmacının yoğunlaştığı kripto paraların diğer ekonomik kavramlarla ilişkisi incelenirken en çok rastlanılan konu finansal piyasalar bağlamında olmuştur. Bu çalışmada 2017:10/2019:5 dönemine ait aylık veriler kullanılarak Etkin Piyasa Hipotezinin, Bitcoin, Ethereum, Ripple (XRP), Bitcoin Cash ve EOS fiyatları için geçerli olup olmadığı araştırılmıştır. Bu doğrultuda verilere uygulanan zaman serisi, panel seri ve yapısal kırılmalı birim kök testleri sonucuna göre Etkin Piyasa Hipotezinin zayıf formunun, kripto para piyasaları için genel olarak geçerli olduğu sonucuna ulaşılmıştır.

Anahtar Kelimeler

Kripto para, Etkin Piyasa Hipotezi, Birim Kök Testleri

Kaynakça

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