A short-and long-term analysis of the nexus between Bitcoin, social media and Covid-19 outbreak

【Author】 Bejaoui, Azza; Mgadmi, Nidhal; Moussa, Wajdi; Sadraoui, Tarek

【Source】HELIYON

【影响因子】3.776

【Abstract】In this paper, we attempt to analyze the dynamic interplay between Bitcoin, social media, and the Covid-19 health crisis. For this end, we apply the fractional autoregressive vector model, fractional error correction model and impulse response functions on daily data over the period 31/12/2019-30/10/2020. Our results clearly show the short- and long-term evidence of the nexus between the Bitcoin price, social media metrics (Tweets and Google Trends) and the intensity of the Covid-19 pandemic. As well, the Covid-19 pandemic does not impact on social media metrics in the short- and long-term. On the other hand, the Covid-19 pandemic positively affects social media metrics. Also, the Covid-19 pandemic encourages investing in digital currencies such as Bitcoin. So, the Covid-19 health crisis significantly influences social media networks and Bitcoin prices.

【Keywords】Covid-19 health crisis; Tweets; Google trends; Bitcoin; Cointegration approach

【发表时间】2021 JUL

【收录时间】2022-01-02

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