Relationship between Bitcoin Exchange Rate and Other Financial Indexes in Time Series

Table 2

The natural logarithm of each variable and the first-order difference unit root verification results.

Variables	ADF		PP
	P	T	P	T
BTC	0.0000	−18.13386	0.0000	−38.34844
GOLD	0.0000	−37.81181	0.0000	−37.76925
JPY	0.0000	−35.90829	0.0000	−35.95482
SP500	0.0000	−36.56911	0.0000	−36.69663
SVI	0.0000	−35.99486	0.0000	−36.22507
USD	0.0000	−34.30820	0.0000	−34.47007
VIX	0.0000	−37.13990	0.0001	−42.94997

Significant level of 1%.