Exploring Global Cryptocurrency Trends: A Specialized Analysis of the Indian Economic Landscape

This research delves into the behavioral aspects of cryptocurrency, analyzing trading prices, market capitalization, traded volume, and dominance rates to understand the global growth of cryptocurrencies. Special attention is given to the top ten highly traded cryptocurrencies, with a focus on Bitcoin, Ethereum, and Tether. The study also incorporates participant opinions, revealing that cryptocurrency is perceived as a popular investment avenue. Macro-economic variables from the Indian economy, including BSE Turnover, Foreign Portfolio Investment, Foreign Direct Investment, Index of Industrial Production and Gross Domestic Production, are examined to assess their impact on cryptocurrency trading. Surprisingly, no bidirectional or unidirectional relationship is found between these Indian macroeconomic variables and cryptocurrency.