@article{Sangtong_Laorungroj_Pusawat_Yodnakonjong_2022, title={Analysis of Economic Factors Affecting Bitcoin Price}, volume={12}, url={https://so02.tci-thaijo.org/index.php/fam/article/view/253259}, abstractNote={<p>The purpose of this research is to study the Bitcoin market, the investment in Bitcoin, and the determinants of Bitcoin price in the world market. The analytical approach was the study of the relationship between tentative factors affecting the price of Bitcoin in the world market. The independent variables in this study consisted of the US dollar index, 10-year US Treasury bond yields, the Dow Jones Industrial Average, oil prices, and gold prices in 96 months, during 2011-2018.</p> <p>The results of the study using Multiple Linear Regression data analysis showed that the independent variables positively related to the price of Bitcoin were the Dow Jones Industrial index and gold prices while the variables having negative effect was the US Dollar Index. As for 10-year US treasury bond yields and oil prices, they were not significantly related to Bitcoin.</p> <p>Recommendations in this research, the researcher did not take into account the influence of economic factors that may arise in other countries of different continents. In order to make the study model of Bitcoin price in the global market more accurate and efficient, other economic variables covering more countries such as Japan, England, Singapore, etc. should be included.</p> <p><strong>Keywords:</strong> Bitcoin Price, Economic Factors, Cryptocurrency </p>}, number={1}, journal={Journal of KMITL Business school}, author={Sangtong, Kodchakorn and Laorungroj, Jirasin and Pusawat, Jeerasith and Yodnakonjong, Duttakorn}, year={2022}, month={Jun.}, pages={42–56} }