COVID-19 pandemic improves market signals of cryptocurrencies-evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin

【Author】 Sarkodie, Samuel Asumadu; Ahmed, Maruf Yakubu; Owusu, Phebe Asantewaa

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】The COVID-19 global pandemic has disrupted business-as-usual, hence, affecting sustained economic development across countries. However, it appears economic uncertainty following COVID-19 containment measures favor market signals of cryptocurrencies. Here, this study empirically and structurally investigates the implication of COVID-19 health outcomes on market prices of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Evidence from the novel Romano-Wolf multiple hypotheses reveal COVID-19 shocks spur Litecoin by 3.20-3.84%, Bitcoin by 2.713.27%, Ethereum by 1.43-1.75%, and Bitcoin Cash by 1.34-1.62%.

【Keywords】Bitcoin; Bitcoin Cash; Ethereum; Litecoin; Cryptocurrency; COVID-19 Pandemic; Romano -Wolf multiple hypotheses; Economic uncertainty; Market signals; Commodity market

【发表时间】2022 JAN

【收录时间】2022-01-18

【文献类型】期刊

【主题类别】

区块链治理--