Analysis the Growth & Linkage b/w Crypto-currency and Stock Market Indices: Evidence from the US and Indian Stock Market

Abstract

In this paper, the researcher studies the growth of cryptocurrency trading in different countries and also investigates the speculative properties of three significant cryptocurrencies Bitcoin (BTC), Binance Coin (BNB) and Ethereum (ETH), and their conditional correlation with six indices of the stock market namely; IXIC, Standard & Poor’s 500, NYSE Composite, DJI, Nifty 50 and BSE Sensex from the period of April 2, 2018, to May 31, 2022. The result of this paper shows the following findings: First- the cryptocurrency market is extremely volatile as compared to indices of the stock market. Second- the stock market and cryptocurrency market are shows highly correlated values in the United Stateindices of the stock marketas compared to the Indian indices of the stock market.