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ISSN (online): 1805-9112

Research ArticleOpen access

A historical excursion through the development of cryptocurrencies in the world

Jiří Kučera1, Tomáš Andelík2

  1. University of Žilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics
  2. Institute of Technology and Business in České Budějovice, School of Expertness and Valuation

Abstract

In this paper, the topic of cryptocurrencies is investigated. The aim is to explain the basic characteristics of four selected cryptocurrencies, to show what the investment in these cryptocurrencies would have looked like in the last two years. Each of the cryptocurrencies examined varies greatly in both purpose and effectiveness. We use the methods of performance comparison and technical analysis. The aim of the article is to compare Ethereum and Bitcoin and to show the effect of the coronavirus pandemic on the development of cryptocurrency prices. The results show that investments in Ethereum or Bitcoin have been the most profitable in the last two years. Regarding the period of the coronavirus crisis, the most favorable investment was Ethereum.

Keywords:cryptocurrencycovidinvestmentprice developmentbitcoinethereumblockchain

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