Proceedings of the 6th Batusangkar International Conference, BIC 2021, 11 - 12 October, 2021, Batusangkar-West Sumatra, Indonesia

Research Article

Cryptocurrency Risk Determinant Impact During Covid-19 Pandemic Moment: Emperical Case From Indonesia

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  • @INPROCEEDINGS{10.4108/eai.11-10-2021.2319582,
        author={Hamdi  Hamdi and Sukardi  Sukardi and Isfenti  Sadalia and Rico Nur Ilham and Muammar  Khaddafi},
        title={Cryptocurrency Risk Determinant Impact During Covid-19 Pandemic Moment: Emperical Case From Indonesia},
        proceedings={Proceedings of the 6th Batusangkar International Conference, BIC 2021, 11 - 12 October, 2021, Batusangkar-West Sumatra, Indonesia},
        publisher={EAI},
        proceedings_a={BIC},
        year={2022},
        month={8},
        keywords={cryptocurrency; bitcoin; pandemic covid-19},
        doi={10.4108/eai.11-10-2021.2319582}
    }
    
  • Hamdi Hamdi
    Sukardi Sukardi
    Isfenti Sadalia
    Rico Nur Ilham
    Muammar Khaddafi
    Year: 2022
    Cryptocurrency Risk Determinant Impact During Covid-19 Pandemic Moment: Emperical Case From Indonesia
    BIC
    EAI
    DOI: 10.4108/eai.11-10-2021.2319582
Hamdi Hamdi1,*, Sukardi Sukardi1, Isfenti Sadalia2, Rico Nur Ilham3, Muammar Khaddafi3
  • 1: Department of Economics Development, Faculty of Economics and Business, Universitas Sumatera Utara, Medan, Indonesia
  • 2: Department of Management, Universitas Sumatera Utara, Medan, Indonesia
  • 3: Faculty of Economics and Business, Universitas Malikussaleh, Aceh, Indonesia
*Contact email: hamdi@usu.ac.id

Abstract

Bitcoin is virtual money or electronic money that does not have a fixed or physical form that can be seen in the real world but is available and used in cyberspace. Bitcoin is one type of cryptocurrency spread in the world. In the current era of the covid-19 pandemic, the use of cryptocurrencies is increasingly in demand, including bitcoin. In this study, the independent variables consisting of Cost Per Transaction, Total Circulating Bitcoin, Total Hast Rate, Transaction Rate Per Secondbitcoin price as dependent variable. The data taken to answer this phenomenon are:secondary data sourced from https://m.id.investing.com/. Researchers used multiple linear regression method with E-views as a calculation tool to get good results. The number of bitcoins, transaction fees, mining difficulties and bitcoin legalization can affect bitcoin price fluctuations. The results obtained from this study are Variable Cost Per Transaction and the total hash rate has a negative and significant effect, while Total Circulating Bitcoin and the transaction rate per second has a positive and significant effect on bitcoin price fluctuations.