I am working on my bachelor's thesis, where I am trying to answer whether Bitcoin qualify to be considered as money. On the empirical part I want to look at the liquidity and velocity to see if it shows behavioral patterns that normally is associated with conventional money.

Now to the question. I have to base the empirical research on a hypothesis, and obviously there is no absolute value of the liquidity and velocity in which a "asset" to be considerate as money.

How could I formulate my hypothesis in a concrete way, to be able to answer my research question?

General thoughts about the topic would also be nice to hear!

(Also, thanks to PETER R)