I am writing my bachelorthesis on "Is Bitcoin under theoretical and empirical aspects money?".

As you can see I have an econometrics related part in my thesis. I want to look at the classic three money functions i.e. (a) medium of exchange, (b) store of value and (c) unit of account.

For (a) I want to look at the price for (b) I want to look at the 30-day-rolling volatility of the bitcoin price and (c) I have no clue yet maybe try to look at the % of actual consumption payed for in bitcoin.

So for (a) and (b) I can build a model to find out what determines the price and the volatiltiy. My question now is what kind of econometric model should I use? Do you think a simple multiple regression OLS model would be appropriate for a bachelorthesis? Do you think I can get a good grade with this kind of model?

Maybe I should look into time-series models, can you give me any advice here?

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    $\begingroup$ Your advisor would be in a better position to answer questions about the appropriate level and grades. What is considered appropriate in one place and study program may not be considered appropriate in another. $\endgroup$ Apr 28, 2023 at 12:34
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    $\begingroup$ 1. As richard hardy says you should talk to your supervisor. 2. At a university where I have position only doing simple OLS would not be sufficient for bachelor thesis in Bsc in economics (i.e. bachelor of science) program I teach, but it might be sufficient in Ba (bachelor of arts) or HBO programmes (dutch version of community college). 3. Quality of universities differ widely at a less prestigious universities you will be able to get away with more. 4. Simple OLS would almost for sure would not be scientifically appropriate in this case $\endgroup$
    – 1muflon1
    Apr 28, 2023 at 12:51
  • $\begingroup$ Alright. Next meeting I will ask my professor. $\endgroup$ Apr 28, 2023 at 12:53

1 Answer 1


As others told you in the comments you should always talk to your thesis advisor about what you should do in your bachelor thesis. Your bachelor thesis does not even need to make sense as long as your supervisor is happy that you showed some effort and is willing to give you passing grade.

If you want your thesis to make sense, because you plan to stay in academia or because you have high personal standards you need to use tools that other people who do research in similar area do. In this case you should do some literature review and see what other people in good papers are doing and try to at least emulate that.


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