Abstract
The main aim of the study will be to identify the major factors affecting the market price of crypto currencies and to analyze the nature of the crypto currency market from a global vs. Indian perspective. In India, crypto currency trading is not yet fully developed, and it has a history of being used to finance illicit operations from the start. Due to significant volatility and unlawful trading, India is considering bringing crypto currency trading under the jurisdiction of SEBI. Due to a high increase in interest in crypto currencies such as Bitcoin, there is a real concern about the ability of this currency to replace the monetary system by overcoming the issues related to it. Several aspects need to be considered to estimate the ability of replacement. The study will take into consideration five main cryptographic currencies. According to Coin MarketCap, the top five crypto currencies by market capitalization as of August 2023 are Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and Cardano (ADA).
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