Bitcoin: Could Bitcoin Lead To The Next Financial Crisis?


BAKIR H.

Finans Politik ve Ekonomik Yorumlar Dergisi, vol.55, no.646, pp.131-157, 2018 (Peer-Reviewed Journal) identifier

  • Publication Type: Article / Article
  • Volume: 55 Issue: 646
  • Publication Date: 2018
  • Journal Name: Finans Politik ve Ekonomik Yorumlar Dergisi
  • Journal Indexes: TR DİZİN (ULAKBİM)
  • Page Numbers: pp.131-157
  • Istanbul Kültür University Affiliated: No

Abstract

Technological developments have created new concepts in the economy, especially in the financial economy. The most important concept in today’s world is undoubtedly cryptocurrency. Cryptocurrencies do not depend on any central institutions or intermediary and they emphasize the trust between people. As it stands today, the most popular cryptocurrency is Bitcoin. At this point, developments in Bitcoin are remarkable. This study aims to evaluate the discussion whether or not it is a bubble waiting to burst, in the light of the latest developments in the market value of Bitcoin. A method which is adopted for this aim is analyzing the studies which are related to the subject and discussing. As a result of these discussions, while the viewpoint that Bitcoin is an asset bubble is supported, the importance of technological development related to money transfer system is emphasized.
Teknolojik geliúmeler ekonomide özellikle de finansal piyasalarda yeni kavramlarn ortaya çkmasnayol açmútr. Günümüzde bu kavramlarn en popülerlerinden biri hiç kuúkusuz kripto paradr. Kriptoparalar herhangi bir merkeze ba÷l olmamakta, aracya ihtiyaç duymamakta ve kiúiler aras güvenunsurunu öne çkarmaktadr. Günümüzde kripto paralarn en popüleri Bitcoin’dir. Bu noktadaBitcoin’deki yaúanan geliúmeler oldukça dikkat çekicidir. Bu çalúmada Bitcoin’in piyasa de÷erindeyaúanan geliúmeler ele alnarak Bitcoin’in patlamay bekleyen bir varlk balonu olup olmad÷ tartúmasnn de÷erlendirilmesi amaçlanmútr. Bu amaca yönelik olarak benimsenen yöntem ise konuylailgili çalúmalarn incelenmesi ve tartúlmas úeklindedir. Bu tartúmalar neticesinde Bitcoin’in birvarlk balonu oldu÷u görüúü desteklenirken, para transfer sisteminde yaratt÷ teknolojik dönüúümünönemi de vurgulanmútr.