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Interdependencies Between Cryptocurrency Markets, Precious Metals and Energy Resources

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Computer Science and Education in Computer Science (CSECS 2023)

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Abstract

In a rapidly changing world where no market or economy is secure, interconnectivity is becoming a key feature of almost all social and economic systems. As a brand-new digital asset, cryptocurrencies are quickly taking over the world economy. Cryptocurrencies are becoming alternative investments as a store of value compared to precious metals. The purpose of this study is to examine the connections between cryptocurrencies, precious metals, and energy resources using structured numerical data. To achieve this goal, two approaches are employed to create networks that reveal relationships between cryptocurrencies (Bitcoin, Ethereum, Cardano, Chainlink, Litecoin, Stellar, and Ripple), precious metals (Gold, Silver, and Platinum), and energy resources (Oil and Natural Gas) based on their daily prices and returns. The interdependence of the networks is further examined to reveal similarities between the created networks. The proposed methodology facilitates an understanding of the dynamics of cryptocurrency markets, the factors that influence them, and the potential for future research to expand and include additional cryptocurrencies.

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Notes

  1. 1.

    https://coinmarketcap.com/.

  2. 2.

    https://finance.yahoo.com/.

  3. 3.

    https://www.investing.com/.

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Author information

Authors and Affiliations

  1. Faculty of Computer Science and Engineering, Ss. Cyril and Methodius University in Skopje, Skopje, Republic of North Macedonia

    Ivan Rusevski, Ana Todorovska & Dimitar Trajanov

  2. Computer Science Department, Metropolitan College, Boston University, Boston, MA, USA

    Ljubomir Chitkushev & Dimitar Trajanov

  3. Administrative Sciences Department, Financial Management, Metropolitan College, Boston University, Boston, MA, USA

    Irena Vodenska

Authors
  1. Ivan Rusevski
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  2. Ana Todorovska
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  3. Irena Vodenska
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  4. Ljubomir Chitkushev
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  5. Dimitar Trajanov
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Corresponding author

Correspondence to Ivan Rusevski .

Editor information

Editors and Affiliations

  1. Boston University, Boston, MA, USA

    Tanya Zlateva

  2. New Bulgarian University, Sofia, Bulgaria

    Georgi Tuparov

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© 2023 ICST Institute for Computer Sciences, Social Informatics and Telecommunications Engineering

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Rusevski, I., Todorovska, A., Vodenska, I., Chitkushev, L., Trajanov, D. (2023). Interdependencies Between Cryptocurrency Markets, Precious Metals and Energy Resources. In: Zlateva, T., Tuparov, G. (eds) Computer Science and Education in Computer Science. CSECS 2023. Lecture Notes of the Institute for Computer Sciences, Social Informatics and Telecommunications Engineering, vol 514. Springer, Cham. https://doi.org/10.1007/978-3-031-44668-9_22

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  • DOI: https://doi.org/10.1007/978-3-031-44668-9_22

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-031-44667-2

  • Online ISBN: 978-3-031-44668-9

  • eBook Packages: Computer ScienceComputer Science (R0)

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