Integrasi Bitcoin dan Pasar Keuangan Global: Pendekatan ARDL Multi Aset

Sahrul Ramadhan; Ladi Wajuba Perdini Fisabilillah

doi:10.26740/independent.v6i1.75875

Penulis

Sahrul Ramadhan Universitas Negeri Surabaya
Ladi Wajuba Perdini Fisabilillah Universitas Negeri Surabaya

DOI:

https://doi.org/10.26740/independent.v6i1.75875

Kata Kunci:

IHSG, ARDL, exchange rate, SBI, IKK, The Fed interest rate, Bitcoin, Indeks, ARDL, Emas, Safe hafen

Abstrak

Penelitian ini bertujuan untuk menganalisis tingkat integrasi Bitcoin dengan pasar keuangan global yang direpresentasikan oleh indeks S&P 500, Nikkei 225, Shanghai Composite, serta komoditas emas. Metode penelitian menggunakan pendekatan Autoregressive Distributed Lag (ARDL) untuk menguji hubungan jangka panjang dan jangka pendek antar variabel. Hasil penelitian menunjukkan bahwa dalam jangka panjang Bitcoin memiliki tingkat integrasi yang bervariasi dengan pasar keuangan global, sementara dalam jangka pendek terdapat dinamika hubungan yang lebih fluktuatif. Temuan ini menunjukkan bahwa Bitcoin belum sepenuhnya berperan sebagai safe haven yang stabil, namun masih memiliki potensi sebagai instrumen diversifikasi investasi. Kesimpulannya, pergerakan Bitcoin masih dipengaruhi oleh dinamika pasar global sehingga investor perlu mempertimbangkan risiko volatilitas dalam pengambilan keputusan investasi.

Unduhan

Data unduhan belum tersedia.

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