THE STUDY OF THE RISK OF CRYPTOCURRENCIES VOLATITY UNDER GLOBAL UNCERTAINTY

Liubov Lehoux, Olga Kirillova, Ravil Akhmadeev, Tatiana Morozova, Olga Bykanova, Irina Avvakumova

Abstract


The entire international economic space is affected by the aftermaths of both the global pandemic and sanctions shocks, which directly influence the cryptocurrency market. Therefore, the volatility risks of fiat currencies, as well as of bitcoins and altcoins, are increasing. The study focuses on analyzing  the risk of cryptocurrencies vitality under global uncertainty. To that end, To meet the study’s aim, a range of general methods, including descriptive, comparison, analysis and observational methods are utilize. According to the results, the exchange rate fluctuations of bitcoin to the US dollar and bitcoin to the euro are synchronous, which to a greater extent indicates the actual absence of the impact of bitcoin on the world's fiat money. At the same time, the cross-rates of fiat currencies are in direct interaction, which confirms the actual absence of the impact of bitcoin on the stability of the euro or dollar monetary currencies. The conducted research made it possible to identify the main risks and threats associated with the regulation of crypto markets at the level of individual jurisdictions. It implies the improvement of the current digital legislation to regulate the activities of crypto exchanges in order to forestall the growth of the shadow economy.


Keywords


Cryptocurrency; Risk; Cybersecurity; Reliable innovative technologies; blockchain

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References


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DOI: http://dx.doi.org/10.21902/Revrima.v3i36.6000

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