Research of factors influencing the investment attractiveness of cryptocurrency

The global financial crisis of 2008 contributed to the introduction of information technology in the financial sector. This aspect led to the emergence of the concept of “financial technology”. One of the most popular directions in the development of financial technologies is cryptocurrency, a digital financial asset, the functioning of which is provided by a network of decentralized computer nodes. To date, there are relatively few studies in the scientific literature that analyze the influence of various factors on the investment attractiveness of cryptocurrencies. As part of this study, the authors analyzed 66 of the most famous cryptocurrencies in 2020 by building a series of regression models. As a result, factors such as the popularity of the cryptocurrency, the level of acceptance of the cryptocurrency and its attachment to a tangible asset were found to be statistically insignificant. To a greater extent, the investment attractiveness of cryptocurrency is paid attention to its volatility, quantity and circulation period.