Bitcoin: A Regression Analysis of Cryptocurrency Influence on the Russian Economy

Abstract

The article examines the electronic payment system "Bitcoin" with the eponymous digital currency. The goal was to analyze the impact of this cryptocurrency on the Russian economy and determine the nature of this influence. Various models of regression were built and the most suitable of them were chosen. During the analysis of actual data the writer has come to the conclusion that at the moment bitcoins do not bear the negative impact on the Russian economy and, therefore, should not be banned.

Keywords: bitcoin, analysis, cryptocurrency, Russian economy, money supply, inflation, regression

JEL Classification: E44