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Intuitive Decision-Making in the GCC Cryptocurrency Market |
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PP: 3135-3143 |
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doi:10.18576/isl/121123
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Author(s) |
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Marwan M. Abdeldayem,
Mohammed Y. Abo Keir,
Saeed H. Aldulaimi,
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Abstract |
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| The aim of this study is to investigate the phenomenon of intuitive decision-making in the GCC cryptocurrency market using both secondary data and primary data. In this paper, we explore how investors in the GCC cryptocurrency market use intuition to make decisions. The study collected 310 daily observations of the five most well-known cryptocurrencies, the GCC stock market indices, the VIX, and gold between January 1, 2022, and January 1, 2023, using data from the coin market cap and data streams. The study also adopted Hensman and Sadler-Smiths typology of intuitive and contextual "signaling" and conducted extensive semi-structured interviews with 18 experienced investors from Bahrain, Saudi Arabia, and the United Arab Emirates and self-reported cognitive tests with 12 participants It finds that Bitcoin is the most popular and volatile cryptocurrency, while Ripple is the least popular and least volatile. Bahraini investors are more likely to rely on instinct than investors from Saudi Arabia and the UAE. Investors should consider the volatility and average value of cryptocurrencies when making investment decisions, and be aware of their preferred cognitive thinking style.
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