Pengaruh Overconfidence, Herding Effect, dan Self-Monitoring terhadap Keputusan Investasi Cryptocurrency Bitcoin (Studi Kasus pada Pengguna Indodax)

Abstract

This study aims to examine the influence of Overconfidence, Herding Effect, and Self-Monitoring on Bitcoin Cryptocurrency investment decisions among Indodax users in Medan City. This research adopts a descriptive quantitative approach. The population consists of Medan residents investing in Cryptocurrency, with an unknown total population size. The sampling technique employed includes non probability sampling using the snowball sampling method and probability sampling using the purposive sampling method. Data were collected through a questionnaire distributed to 100 respondents. The data analysis techniques used in this study include descriptive analysis and multiple linear regression analysis, processed using SPSS version 25. The results indicate that, partially, the Overconfidence variable has a positive but statistically insignificant effect on Bitcoin Cryptocurrency investment decisions among Medan residents. Meanwhile, the Herding Effect and Self-Monitoring variables have a simultaneous positive and significant influence on investment decisions. Based on the coefficient of determination, the combined independent variables explain 19.4% of the variance in investment decisions, while the remaining 80.6% is influenced by other factors not included in this model.