Crypto Prices: What Drives Bitcoin, Ethereum, and Litecoin?

You've probably heard about Bitcoin, Ethereum, and Litecoin. These cryptocurrencies have become really popular in recent years. But what makes their prices go up or down? A recent study looked into this. They checked out data from March 2016 to May 2022. They found that the number of transactions, oil prices, and gold prices had a bigger impact on these cryptocurrencies' prices in the long run. Interestingly, how often people searched for these cryptocurrencies online didn't really matter.

When it comes to how these cryptocurrencies influence each other, things get interesting. Bitcoin and Ethereum prices affect each other in the long run, especially when looking at low frequency data. Bitcoin also affects Litecoin prices in the long run at low frequencies. But Litecoin affects Ethereum prices in the short, medium, and long run at high, medium, and low frequencies. These findings are important for understanding the global financial market and helping investors make decisions.

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