![]() The independent research variable was annual bitcoin market capitalisation value while the dependent research variables were the relative effect of annual bitcoin market capitalisation value on the annual market capitalisation value for all cryptocurrencies and the effect on annual global GDP value. These measures were used to describe trends in circulated bitcoins, value per token, market capitalisation values for bitcoin and all cryptocurrencies and annual global GDP values during the research period. Measures such as standard deviation and range were employed to describe the extent of dispersion about the central tendency (Ashley et al., 2016 Creswell, 2009 Frankfort-Nachmias & Nachmias, 2008). Respective data on quarterly circulated bitcoins, quarterly bitcoin prices and quarterly market capitalisation values for bitcoin from 2012 through 2020 annual market capitalisation values for all cryptocurrencies from 2013 through 2020 and annual global GDP data from 2012 through 2020 were used in the study.ĭescriptive statistics and regression models were used to describe the research variables and to evaluate their behaviour over the stated time frame on global GDP. Other sources were Google Search Engine including, ,, and electronic databases of the World Bank, IMF and OECD, among other significant sources. These included text books, peer-reviewed articles published in journals, newspaper publications, and digital currency markets. Data required for the conduct of the current research were obtained mainly from secondary sources. This design allowed the researcher to gather relevant research data over a specific time frame (Ashley, Takyi & Obeng, 2016 Creswell, 2009 Frankfort-Nachmias and Nachmias, 2008). Specifically, a cross-sectional design, an example of survey design, formed the basis of the research. The quantitative approach to scientific inquiry was adapted and used in the current research.
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