Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA)
Vol. 1 No. 1 (2022): July

Effect of World Oil Prices on Cryptocurrency Return

Mohd. Heikal (Faculty of Economic and Business Universitas Malikussaleh)
Maulana Majied Sumatrani Saragih (CV. Radja Publika)
Rico Nur Ilham (Faculty of Economic and Business Universitas Malikussaleh)
Muammar Khaddafi (Faculty of Economic and Business Universitas Malikussaleh)
Rusydi Rusydi (Faculty of Economic and Business Universitas Malikussaleh)



Article Info

Publish Date
31 Jul 2022

Abstract

This study aims to determine the effect ofWorld Oil Priceseffect on Return Cryptocurrency. The researcher uses a descriptive quantitative approach. Replication research is the repetition of the basic experiment. The analytical method used is multiple linear regression model. As for the results of this study, the variable World Oil Price (X) can explain the Return Cryptocurrency variable (Y) of 27.9%.variableWorld Oil Prices(X) significant effectagainst the Return Cryptocurrency variable (Y). Oil price fluctuations on the world market have an effect on Cryptocurrency Return. In this study, it is found that fluctuations in oil prices in the world market have a positive impact on Cryptocurrency Return. That is, the increase in oil prices encourages the rise of Cryptocurrencies. Researchers suggest to pay more attention to world oil prices first before other commodities, because the impact of world oil prices is very large on commodity prices worldwide. So, for example, a decline in world oil prices can affect Cryptocurrency Return.

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Journal Info

Abbrev

go

Publisher

Subject

Economics, Econometrics & Finance

Description

Journal of Accounting Research, Utility Finance and Digital Assets (JARUDA) | ISSN (e): 2962-973X provides a forum for academics and professionals to share the latest developments and advances in knowledge and practice of business management, both theory and methods. It aims to foster the exchange ...