Paper Title
Analysis of Relationship Between Bitcoin Returns, Ethereum Returns and Top50 ICOS

Abstract
This paper investigate relationships Bitcoin returns, Ethereum returns and Top 50 ICOs volume using Vector Auto regression. From Impulse respond function investigate that shock of Bitcoin and Ethereum returns on themselves are positive for a short period. While shock of Top50 volume ICOs on itself is swing starting with positive and then drop down with longer period that positive. Keywords - Cryptocurrency, Bitcoin, Ethereum, ICO, VAR.