Affiliation:
1. Chitkara Business School, Chitkara University, India
Abstract
The cryptocurrency market has gained popularity in the last few years. Additionally, there is the availability of data on price fluctuations on cryptocurrency exchanges. Thus, statistical analysis can be conducted to identify the characteristics of the cryptocurrency market. This chapter aims to identify the characteristics of the cryptocurrency market in India and clarify to what extent the cryptocurrency market is similar or different from the traditional financial market of stock, currency, derivatives, commodities, and bonds. Thus, this chapter presents the history and development of the cryptocurrency market in India, cryptocurrency exchanges operating in India, and the differences between the cryptocurrency market and the traditional financial market. The chapter also presents the analysis of fluctuation in prices of cryptocurrency on varied platforms such as CoinSwitch, Binance, CoinMarketCap, etc. The statistical properties of the cryptocurrency market are compared with the traditional financial market.