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This dissertation was written as part of the MSc in Banking and Finance at the International Hellenic University. The objective of the current thesis is an effort to examine the relationship between Bitcoin prices and stock market indices, as well as with stock prices of big capitalization companies. More specifically, it is an attempt to build a forecasting model that predicts Bitcoin prices to the highest accuracy that could be achieved. Since Nakamoto (2008) introduced the Bitcoin, the financial sectors have been struggling to comprehend this financial instrument, as its complexity seems to draw the attention of both investors and researchers. Due to its extreme volatility and compound nature, the engaging in such a trading, requires a more detailed evaluation and knowledge before stepping into the transaction environment. As the transaction frequency arises, the need to observe and study its behavior, attracts more and more researchers, with ultimate goal to build a forecasting model, with decent forecasting accuracy, that predicts this cryptocurrency's evolution. In order for the model to achieve its best potential, we have to provide multiple regressors. To support our research, we collected data from stock indices as well as stock prices from companies with big market capitalization. More specific, T. Panagiotidis et al. (2018) , after examining all potential suggested drivers: stock market indices, oil and gold, interest rates and internet trends, concludes that NIKKEI index is one of Bitcoin's determinants. Regarding other stock market indices, positive correlation is obtained by DJ, SSEC, and Nasdaq , setting the green light that more investigation on stock market indices had to be done. In addition, Salisu, Isah and Akanni, (2019) examines the effect of bitcoin prices in predicting the stock returns of the G7 countries. The conclusion drawn from this research is that the stock returns of the G7 are better forecasted when using as inputs the bitcoin prices rather than the respective macroeconomic factors. The main reason is that the G7 stock markets are integrated into the world of economy and thus are more sensitive to external shocks than internal shocks. The interesting aspect of this research is that Japan appears to be an exception. Our study is driven by conclusions mentioned in literature review but also by results that did not appear to have a significant impact on that particular research, but show some level of correction, intriguing us to investigate further on them.