{"id":"https://openalex.org/W7218241007","doi":"https://doi.org/10.61838/jmbs.305","title":"Developing a System Dynamics Model for Analyzing Fluctuations in Major Cryptocurrency Markets","display_name":"Developing a System Dynamics Model for Analyzing Fluctuations in Major Cryptocurrency Markets","publication_year":2026,"publication_date":"2026-01-01","ids":{"openalex":"https://openalex.org/W7218241007","doi":"https://doi.org/10.61838/jmbs.305"},"language":"en","primary_location":{"id":"doi:10.61838/jmbs.305","doi":"https://doi.org/10.61838/jmbs.305","is_oa":true,"landing_page_url":"https://doi.org/10.61838/jmbs.305","pdf_url":null,"source":{"id":"https://openalex.org/S5407053719","display_name":"Journal of Management and Business Solutions","issn_l":"3092-7226","issn":["3092-7226"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Management and Business Solutions","raw_type":"journal-article"},"parent_works":[],"lineage":["https://openalex.org/W7218241007"],"child_works_count":0,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://journalmbs.com/index.php/jmbs/article/download/305/260","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5155651126","display_name":"Mahshid Sabeti","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4210152146","display_name":"Islamic Azad University Kerman","ror":"https://ror.org/04ywz9252","country_code":"IR","type":"education","lineage":["https://openalex.org/I110525433","https://openalex.org/I4210152146"]}],"countries":["IR"],"is_corresponding":false,"raw_author_name":"Mahshid Sabeti","raw_affiliation_strings":["Department of Industrial Management, Ke.C., Islamic Azad University, Kerman, Iran"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Industrial Management, Ke.C., Islamic Azad University, Kerman, Iran","institution_ids":["https://openalex.org/I4210152146"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5137524921","display_name":"Hamid Reza Mollaei","orcid":"https://orcid.org/0000-0003-0078-2236","observed_orcids":["https://orcid.org/0000-0003-0078-2236"]},"institutions":[{"id":"https://openalex.org/I4210152146","display_name":"Islamic Azad University Kerman","ror":"https://ror.org/04ywz9252","country_code":"IR","type":"education","lineage":["https://openalex.org/I110525433","https://openalex.org/I4210152146"]}],"countries":["IR"],"is_corresponding":true,"raw_author_name":"Hamid Reza Mollaei","raw_affiliation_strings":["Department of Industrial Management, Ke.C., Islamic Azad University, Kerman, Iran"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Industrial Management, Ke.C., Islamic Azad University, Kerman, Iran","institution_ids":["https://openalex.org/I4210152146"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5119836596","display_name":"Ali Raeispour Rajabali","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4210152146","display_name":"Islamic Azad University Kerman","ror":"https://ror.org/04ywz9252","country_code":"IR","type":"education","lineage":["https://openalex.org/I110525433","https://openalex.org/I4210152146"]}],"countries":["IR"],"is_corresponding":false,"raw_author_name":"Ali Raeispour Rajabali","raw_affiliation_strings":["Department of Economics, Ke.C.,Islamic Azad University. Kerman , Iran"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, Ke.C.,Islamic Azad University. Kerman , Iran","institution_ids":["https://openalex.org/I4210152146"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5155989815","display_name":"Zahra Firoozi","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I4210152146","display_name":"Islamic Azad University Kerman","ror":"https://ror.org/04ywz9252","country_code":"IR","type":"education","lineage":["https://openalex.org/I110525433","https://openalex.org/I4210152146"]}],"countries":["IR"],"is_corresponding":false,"raw_author_name":"Zahra Firoozi","raw_affiliation_strings":["Department of Industrial Engineering, Ke.C., Islamic Azad University, Kerman, Iran"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Industrial Engineering, Ke.C., Islamic Azad University, Kerman, Iran","institution_ids":["https://openalex.org/I4210152146"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5046380182","display_name":"Mohsen Zayandehroodi","orcid":"https://orcid.org/0000-0003-0325-9416","observed_orcids":["https://orcid.org/0000-0003-0325-9416","https://orcid.org/0000-0003-0307-514X"]},"institutions":[{"id":"https://openalex.org/I4210152146","display_name":"Islamic Azad University Kerman","ror":"https://ror.org/04ywz9252","country_code":"IR","type":"education","lineage":["https://openalex.org/I110525433","https://openalex.org/I4210152146"]}],"countries":["IR"],"is_corresponding":false,"raw_author_name":"Mohsen Zayandehroodi","raw_affiliation_strings":["Department of economics, Ke.C.,Islamic Azad University, Kerman,Iran"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of economics, Ke.C.,Islamic Azad University, Kerman,Iran","institution_ids":["https://openalex.org/I4210152146"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5137524921"],"corresponding_institution_ids":["https://openalex.org/I4210152146"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"0","issue":"0","first_page":"1","last_page":"18"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.5708000063896179,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.5708000063896179,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.22339999675750732,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.05420000106096268,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cryptocurrency-market","display_name":"cryptocurrency market","score":0.699999988079071},{"id":"https://openalex.org/keywords/bitcoin","display_name":"Bitcoin","score":0.6320000290870667},{"id":"https://openalex.org/keywords/cryptocurrency-price-prediction","display_name":"cryptocurrency price prediction","score":0.6579999923706055},{"id":"https://openalex.org/keywords/system-dynamics-modeling","display_name":"system dynamics modeling","score":0.6980000138282776},{"id":"https://openalex.org/keywords/market-volatility","display_name":"market volatility","score":0.6460000276565552},{"id":"https://openalex.org/keywords/institutional-adoption","display_name":"institutional adoption","score":0.6700000166893005},{"id":"https://openalex.org/keywords/cryptocurrency-regulation","display_name":"cryptocurrency regulation","score":0.9279999732971191},{"id":"https://openalex.org/keywords/network-effects","display_name":"network effects","score":0.5839999914169312},{"id":"https://openalex.org/keywords/stablecoins","display_name":"stablecoins","score":0.9869999885559082},{"id":"https://openalex.org/keywords/composite-index","display_name":"composite index","score":0.6570000052452087},{"id":"https://openalex.org/keywords/scenario-analysis","display_name":"scenario analysis","score":0.7059999704360962},{"id":"https://openalex.org/keywords/ethereum","display_name":"Ethereum","score":0.5180000066757202},{"id":"https://openalex.org/keywords/litecoin","display_name":"Litecoin","score":0.7649999856948853},{"id":"https://openalex.org/keywords/ripples","display_name":"ripples","score":0.996999979019165},{"id":"https://openalex.org/keywords/mining-difficulty","display_name":"mining difficulty","score":0.5070000290870667},{"id":"https://openalex.org/keywords/investor-sentiment","display_name":"investor sentiment","score":0.49300000071525574}],"concepts":[{"id":"https://openalex.org/C180706569","wikidata":"https://www.wikidata.org/wiki/Q13479982","display_name":"Cryptocurrency","level":2,"score":0.9442999958992004},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5214999914169312},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.48579999804496765},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.4814000129699707},{"id":"https://openalex.org/C77405623","wikidata":"https://www.wikidata.org/wiki/Q598451","display_name":"System dynamics","level":2,"score":0.4577000141143799},{"id":"https://openalex.org/C117245426","wikidata":"https://www.wikidata.org/wiki/Q235038","display_name":"Technical analysis","level":2,"score":0.43860000371932983},{"id":"https://openalex.org/C177264268","wikidata":"https://www.wikidata.org/wiki/Q1514741","display_name":"Set (abstract data type)","level":2,"score":0.4300000071525574},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37860000133514404},{"id":"https://openalex.org/C30772137","wikidata":"https://www.wikidata.org/wiki/Q5164762","display_name":"Consumption (sociology)","level":2,"score":0.335099995136261},{"id":"https://openalex.org/C27564746","wikidata":"https://www.wikidata.org/wiki/Q913709","display_name":"Market research","level":2,"score":0.31790000200271606},{"id":"https://openalex.org/C182306322","wikidata":"https://www.wikidata.org/wiki/Q1779371","display_name":"Order (exchange)","level":2,"score":0.3034999966621399},{"id":"https://openalex.org/C75684735","wikidata":"https://www.wikidata.org/wiki/Q858810","display_name":"Big data","level":2,"score":0.29750001430511475},{"id":"https://openalex.org/C48220719","wikidata":"https://www.wikidata.org/wiki/Q10836209","display_name":"Digital currency","level":3,"score":0.29649999737739563},{"id":"https://openalex.org/C2988666273","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Investment analysis","level":3,"score":0.29269999265670776},{"id":"https://openalex.org/C112930515","wikidata":"https://www.wikidata.org/wiki/Q4389547","display_name":"Risk analysis (engineering)","level":1,"score":0.273499995470047},{"id":"https://openalex.org/C145912823","wikidata":"https://www.wikidata.org/wiki/Q113558","display_name":"Dynamics (music)","level":2,"score":0.2718999981880188},{"id":"https://openalex.org/C202353208","wikidata":"https://www.wikidata.org/wiki/Q1167393","display_name":"Economic indicator","level":2,"score":0.2678000032901764},{"id":"https://openalex.org/C42475967","wikidata":"https://www.wikidata.org/wiki/Q194292","display_name":"Operations research","level":1,"score":0.26600000262260437},{"id":"https://openalex.org/C2780009758","wikidata":"https://www.wikidata.org/wiki/Q6804172","display_name":"Measure (data warehouse)","level":2,"score":0.259799987077713}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.61838/jmbs.305","doi":"https://doi.org/10.61838/jmbs.305","is_oa":true,"landing_page_url":"https://doi.org/10.61838/jmbs.305","pdf_url":null,"source":{"id":"https://openalex.org/S5407053719","display_name":"Journal of Management and Business Solutions","issn_l":"3092-7226","issn":["3092-7226"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Management and Business Solutions","raw_type":"journal-article"},{"id":"pmh:oai:journalmbs.com:article/305","doi":null,"is_oa":true,"landing_page_url":"https://journalmbs.com/index.php/jmbs/article/view/305","pdf_url":"https://journalmbs.com/index.php/jmbs/article/download/305/260","source":{"id":"https://openalex.org/S5407053719","display_name":"Journal of Management and Business Solutions","issn_l":"3092-7226","issn":["3092-7226"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Management and Business Solutions; In Press; 1-18","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"pmh:oai:journalmbs.com:article/305","doi":null,"is_oa":true,"landing_page_url":"https://journalmbs.com/index.php/jmbs/article/view/305","pdf_url":"https://journalmbs.com/index.php/jmbs/article/download/305/260","source":{"id":"https://openalex.org/S5407053719","display_name":"Journal of Management and Business Solutions","issn_l":"3092-7226","issn":["3092-7226"],"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-nc","license_id":"https://openalex.org/licenses/cc-by-nc","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Management and Business Solutions; In Press; 1-18","raw_type":"info:eu-repo/semantics/article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7218241007.pdf","grobid_xml":"https://content.openalex.org/works/W7218241007.grobid-xml"},"referenced_works_count":28,"referenced_works":["https://openalex.org/W4213073979","https://openalex.org/W4286203206","https://openalex.org/W4311331147","https://openalex.org/W4311728813","https://openalex.org/W4312309734","https://openalex.org/W4313416281","https://openalex.org/W4321090488","https://openalex.org/W4352992813","https://openalex.org/W4377940590","https://openalex.org/W4379384143","https://openalex.org/W4381429153","https://openalex.org/W4383102849","https://openalex.org/W4386196222","https://openalex.org/W4386639052","https://openalex.org/W4386639094","https://openalex.org/W4388299026","https://openalex.org/W4388641109","https://openalex.org/W4389569523","https://openalex.org/W4390235077","https://openalex.org/W4391259607","https://openalex.org/W4391622204","https://openalex.org/W4392772087","https://openalex.org/W4393080694","https://openalex.org/W4396782086","https://openalex.org/W4399920999","https://openalex.org/W4412107315","https://openalex.org/W4412543751","https://openalex.org/W4416213269"],"related_works":["https://openalex.org/W4413009541","https://openalex.org/W7049008883","https://openalex.org/W7212166861","https://openalex.org/W7071946171","https://openalex.org/W7035778683","https://openalex.org/W4417329574","https://openalex.org/W2894994182","https://openalex.org/W7112968914","https://openalex.org/W4401943887","https://openalex.org/W2991914832"],"abstract_inverted_index":{"The":[0,60,216,241,365],"cryptocurrency":[1,52,77,130],"market":[2,53,78,131,314],"has":[3,17],"attracted":[4],"unprecedented":[5],"investor":[6],"attention":[7,107],"in":[8,108,147,272,281,286,299],"recent":[9],"years.":[10],"Bitcoin,":[11,91],"the":[12,27,35,50,63,139,164,196,208,227,235,239,263,291,307,336],"world\u2019s":[13],"largest":[14],"digital":[15],"currency,":[16],"experienced":[18],"a":[19,46,69,82,115,123,135,258,269,278,284,296,319,372],"price":[20,282],"increase":[21,271,280,298],"of":[22,29,37,49,62,85,138,166,229,238,244],"more":[23,378],"than":[24],"1,500%":[25],"since":[26],"beginning":[28],"2017.":[30],"Despite":[31],"numerous":[32],"studies":[33,43],"on":[34,90],"future":[36],"cryptocurrencies":[38,56,310],"and":[39,54,58,75,119,157,159,169,179,181,190,206,226,257,283,290,316,353,362,377,383],"their":[40],"volatility,":[41],"few":[42],"have":[44,104,318],"provided":[45],"comprehensive":[47,83,124],"analysis":[48,165,304,376],"broader":[51],"how":[55],"evolve":[57],"fluctuate.":[59],"aim":[61],"present":[64],"study":[65,93],"is":[66],"to":[67,128,212,268,277,288,295,329],"develop":[68],"system":[70,116],"dynamics":[71,117],"model":[72,125,367],"for":[73,360,374],"analyzing":[74],"forecasting":[76,363],"fluctuations":[79],"by":[80,381],"considering":[81],"set":[84],"influential":[86,143],"variables.":[87],"While":[88],"focusing":[89],"this":[92,112],"also":[94],"examines":[95],"several":[96],"other":[97,324],"common":[98],"cryptocurrencies,":[99,325],"such":[100],"as":[101,224,371],"Ethereum,":[102,204],"which":[103],"received":[105],"less":[106],"previous":[109],"studies.":[110],"In":[111],"study,":[113],"using":[114],"approach":[118],"Vensim":[120],"DSS":[121],"software,":[122],"was":[126,222,232],"designed":[127],"analyze":[129],"fluctuations.":[132,364],"First,":[133],"through":[134,163],"systematic":[136],"review":[137],"research":[140],"literature,":[141],"28":[142],"factors":[144],"were":[145,214,358],"identified":[146],"six":[148],"main":[149],"categories,":[150],"including":[151,248,335],"fundamental,":[152],"demand-related,":[153],"macroeconomic,":[154],"psychological-behavioral,":[155],"technical":[156],"on-chain,":[158],"institutional-regulatory":[160],"factors.":[161],"Then,":[162],"causal":[167],"relationships":[168],"feedback":[170],"loops,":[171],"four":[172,184,201],"reinforcing":[173],"loops\u2014price":[174],"self-reinforcement,":[175],"network":[176],"effect,":[177],"investment":[178],"mining,":[180],"halving":[182,264],"effect\u2014and":[183],"balancing":[185],"loops\u2014affordability,":[186],"profit-taking,":[187],"mining":[188],"difficulty,":[189],"regulatory":[191],"interventions\u2014were":[192],"mapped.":[193],"To":[194],"validate":[195],"model,":[197],"historical":[198],"data":[199],"from":[200,210,327],"major":[202],"cryptocurrencies\u2014Bitcoin,":[203],"Litecoin,":[205],"Ripple\u2014over":[207],"period":[209],"2017":[211],"2024":[213],"used.":[215],"mean":[217],"absolute":[218],"percentage":[219],"error":[220],"(MAPE)":[221],"calculated":[223],"10.5%,":[225],"coefficient":[228],"determination":[230],"(R\u00b2)":[231],"0.88,":[233],"indicating":[234],"acceptable":[236],"accuracy":[237],"model.":[240],"simulation":[242],"results":[243],"five":[245],"different":[246,313],"scenarios,":[247],"halving,":[249],"institutional":[250,274],"adoption,":[251],"strict":[252],"regulation,":[253],"global":[254],"economic":[255],"crisis,":[256],"combined":[259,292],"scenario,":[260],"showed":[261,305],"that":[262,306],"event":[265],"alone":[266],"leads":[267,276,294],"42%":[270],"price,":[273],"adoption":[275],"69%":[279],"reduction":[285],"volatility":[287],"32%,":[289],"scenario":[293,375],"123%":[297],"price.":[300],"Furthermore,":[301],"dynamic":[302],"correlation":[303,308,322],"among":[309],"changes":[311],"under":[312],"conditions,":[315],"stablecoins":[317],"weak":[320],"negative":[321],"with":[323],"ranging":[326],"-0.15":[328],"-0.35.":[330],"Finally,":[331],"operational":[332],"composite":[333],"indices,":[334],"Market":[337],"Pressure":[338],"Index":[339,343,347,351,356],"(MPI),":[340],"Network":[341],"Sentiment":[342],"(NSI),":[344],"Regulatory":[345],"Risk":[346],"(RRI),":[348],"Fundamental":[349],"Strength":[350],"(FSI),":[352],"Composite":[354],"Volatility":[355],"(CVI),":[357],"proposed":[359,366],"monitoring":[361],"can":[368],"be":[369],"used":[370],"tool":[373],"informed":[379],"decision-making":[380],"investors":[382],"policymakers.":[384]},"counts_by_year":[],"updated_date":"2026-11-13T13:42:25.865203","created_date":"2026-10-03T00:00:00"}
