9th International Conference on ICT for Sustainable Development

Authors - Anusuya Choudhary, Ritu Srivastava, Archana Gulati
Abstract - The purpose of this study is to increase readers' understanding of the blockchain technology-based cryptocurrency. As a developing country, India is attempting to learn from other countries like China and United States about its future steps toward such alternatives. The goal of this research is to close the gap between investor response and long-term implications. The study makes use of the Arima model to analyze price and volume data for Bitcoin to comprehend investor reaction for a period of five years. Second, a candle stick analysis of two years data of Binance coin was performed to comprehend the trading pattern. It was found that following the COVID-19 pandemic, investors attempted to turn this technology into a major industry, and investment increased significantly. This indicates that individuals can gain confidence if they are given the correct information. India's economy can greatly benefit from blockchain based cryptocurrencies as it provides more transparency in several industries, including finance, supply chains, and government.