C. Çağrı DÖNMEZ, A. Fatih DERELİ, M. Bilal HORASAN, Çağrı YILDIZ

EVRIMSEL KRIPTO PARA PIYASASI DINAMIKLERI ANALIZI

Bu araştırmanın amacı, kripto para piyasadaki kripto para birimlerinin ortak özellikleriyle birlikte farklı özelliklerini araştırmak, gelecekteki blokzinciri teknolojisin birbirinden farklı kripto para birimleri üzerinde etkileşimini tartışmaktır. Bu araştırma, karmaşık bir yapıya sahip olan kripto para piyasası ekosistemindeki başlıca kripto para birimi olan Bitcoin ve son iki yıl içerisinde verilere dayanarak kripto para piyasında değer kazanan altcoin'ler arasındaki ilişkileri incelemektedir. Yapılan çalışmada, kripto para birimlerinin fiyat değişimleri arasında çapraz korelasyon olup olmadığı, kripto para piyasası ekososteminin kapitalizasyon değerindeki değişiklikler açısından araştırılmıştır. Araştırmada kullanılan veri setini karşılaştırmalı analize uygulayarak, kripto para birimlerinin ekonomiksel davranışları incelenmiş, bu bağlamda küresel kripto para birimlerinin piyasa eğilimlerini inceleyerek asgari Yayılma Süreci (Minimum spanning tree) ve Analitik Hiyerarşi Süreci (hierarchical structure tree) yöntemleri kullanılmıştır.

AN ANALYSIS OF EVOLUTIONARY CRYPTOCURRENCY MARKET DYNAMICS

The focus of this research is to describe and discuss future blockchain technology in relation to different formsof digital cryptocurrencies by investigating distinct characteristics and common features of cryptocurrencies onthe market. This research explores significant relationships between the major cryptocurrencies on the complexcryptocurrency market ecosystem, particularly Bitcoin and the most prominent altcoins based on historicalmarket capitalization data for the last two years. In this work cross-correlations between differentcryptocurrencies are examined in terms of changes in the market capitalization value. For the comparativeanalysis minimum spanning tree (MST) and hierarchical structure tree (HST) methods are applied in the contextof economic behaviour of cryptocurrencies with regard to global cryptocurrency market trends.

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