Setiawan, Felix Lyanto (2023) Pendekatan Sistem Dinamik untuk Menganalisis Kestabilan Cryptocurrency. Other thesis, Institut Teknologi Sepuluh Nopember.
![[thumbnail of 06111940000041-Undergraduate_Thesis.pdf]](http://repository.its.ac.id/style/images/fileicons/text.png) |
Text
06111940000041-Undergraduate_Thesis.pdf Download (2MB) |
Abstract
Mata uang cryptocurrency telah menarik perhatian publik karena kenaikan harga 9 kali pada tahun 2017. Kenaikan harga ini tentu saja memikat trader bertipe spekulan untuk membeli cryptocurrency karena melihat potensi keuntungan besar. Oleh karena itu, penyebab harga cryptocurrency berfluktuasi sedang menjadi misteri bagi trader. Terdapat dugaan kuat harga cryptocurrency berfluktuasi karena trader spekulan mendominasi pasar cryptocurrency. Oleh karena itu, pasar cryptocurrency sangat dipengaruhi oleh perilaku trader spekulan. Adapun perilaku trader spekulan yang paling mempengaruhi pasar antara lain: perilaku membeli atau menjual aset mengikuti arah tren dan perilaku trader membeli atau menjual aset berdasarkan nilai fundamental. Lebih lanjut, likuiditas pasar cryptocurrency juga merupakan faktor lainnya disamping perilaku trader. Penelitian ini dilakukan untuk mendapatkan perilaku trader spekulan yang paling mempengaruhi fluktuasi harga cryptocurrency. Pada tahap awal, penelitian ini mengembangkan model sistem dinamik pasar cryptocurrency yang telah dikonstruksi oleh Caginalp dan Balenovich, kemudian dilakukan analisis kestabilan sistem untuk berbagai parameter. Pada tahap kedua, dilakukan analisis kestabilan sistem pasar cryptocurrency dengan teorema kestabilan nilai eigen dan kondisi Routh-Hurwitz untuk mendapatkan himpunan pasangan parameter yang sistem pasar cryptocurrency stabil. Pada tahap akhir, dilakukan analisis hasil kestabilan berdasarkan teori ekonomi. Hasil analisis menunjukkan bahwa perilaku trader yang menjual atau membeli aset mengikuti arah tren merupakan faktor yang paling mempengaruhi fluktuasi harga cryptocurrency.
===================================================================================================================================
The cryptocurrency has caught the public’s attention due to a 9-fold price increase in 2017. This price increase has certainly enticed speculative-type traders to buy cryptocurrencies because they see the potential for huge profits. Therefore, the cause of cryptocurrency prices fluctuate is a mystery to traders. There is a strong suspicion cryptocurrency prices fluctuate because speculative traders dominate the cryptocurrency market. Therefore, the cryptocurrency market is heavily influenced by the behavior of speculative traders. The speculative trader behaviors that affect the market the most include buying or selling assets following the direction of the trend and the behavior of traders buying or selling assets based on fundamental value. Furthermore, the liquidity of the cryptocurrency market is also another factor besides trader behavior. This study was conducted to find the speculative trader behavior that most influences cryptocurrency price fluctuations. In the first stage, this research develops a dynamic system model of the cryptocurrency market that has been constructed by Caginalp and Balenovich, then analyzes the stability of the system for various parameters. In the second stage, the stability analysis of the cryptocurrency market system is carried out with the eigenvalue stability theorem and the Routh-Hurwitz condition to obtain the set of parameter pairs for which the cryptocurrency market system is stable. In the final stage, the stability results are analyzed based on economic theory. The results of this research showed that the behavior of traders who sell or buy assets following the uptrend or downtrend is the factor that most influences cryptocurrency price fluctuations.
| Item Type: | Thesis (Other) |
|---|---|
| Uncontrolled Keywords: | Cryptocurrency, Sistem Dinamik, Spekulan, Trader, Tren; Cryptocurrency, Dynamical System, Speculant, Trader, Trend |
| Subjects: | Q Science > QA Mathematics > QA371 Differential equations--Numerical solutions Q Science > QA Mathematics > QA401 Mathematical models. Q Science > QA Mathematics > QA402 System analysis. Q Science > QA Mathematics > QA614.8 Differentiable dynamical systems |
| Divisions: | Faculty of Science and Data Analytics (SCIENTICS) > Mathematics > 44201-(S1) Undergraduate Thesis |
| Depositing User: | Felix Lyanto Setiawan |
| Date Deposited: | 14 Sep 2023 06:09 |
| Last Modified: | 14 Sep 2023 06:09 |
| URI: | http://repository.its.ac.id/id/eprint/104081 |
Actions (login required)
 |
View Item |