Analysis of the Influence of Bitcoin and Macroeconomic Fundamentals on the LQ45 Index for the 2018-2022 Period

Abstract

This study aims to understand the effect of bitcoin and macroeconomic fundamentals (inflation, exchange rate, BI Rate, money supply, and IDX) on the LQ45 index. The type of data used in this study is secondary data in the form of time series with a research period of January 2018 to December 2022. The data in this study consisted of quantitative data. The data analysis technique applies multiple linear regression which is processed using SPSS version 25. The results state that bitcoin has a negative effect on the LQ45 index, inflation has a positive effect on the LQ45 index, exchange rate has a negative effect on the LQ45 index, BI Rate has a negative effect on the LQ45 index, money supply has a negative effect on the LQ45 index, IDX has a positive effect on the LQ45 index.