Cryptocurrency Research and Decision-Making: A Multi-Framework Systemic Review and Future Agenda

This study addresses the growing importance of cryptocurrency (CC) as a financial asset and its increasing popularity as an investment option. Given the rapid expansion of research in this field, the main objective is to systematically synthesize the existing literature on cryptocurrency investment and decision-making, focusing on its intellectual structure, dominant themes, theoretical foundations, and emerging research trends. To achieve this, a hybrid review framework is employed, combining a theory-based systematic literature review with bibliometric analysis, following PRISMA guidelines. The analysis covers 1,184 articles indexed in Scopus and published between 2015 and 2025. Additionally, the study integrates the TCCMR, ADO, and PICO frameworks to provide a comprehensive, multidimensional evaluation of the selected body of literature. The findings reveal that cryptocurrency research is predominantly focused on volatility, market connectedness, portfolio diversification, and behavioral aspects of investment. The results also indicate a strong reliance on econometric and predictive modeling approaches. Emerging research directions highlight increasing attention to sustainability concerns, regulatory challenges, and the application of artificial intelligence in investment analytics. Based on these insights, the study proposes a future research agenda emphasizing theoretical integration, methodological diversification, sustainability perspectives, and decision-oriented modeling. The implications of the research are relevant for investors, regulators, and financial institutions, as they provide a deeper understanding of risks, governance, and decision-making processes in cryptocurrency markets. This study contributes to the literature by offering a comprehensive knowledge structure and research roadmap, representing one of the first attempts to combine bibliometric mapping with TCCMR, ADO, and PICO frameworks in the context of cryptocurrency investment research.