Asymmetric nexus between Bitcoin, gold resources and stock market returns: Novel findings from quantile estimates

【Author】 Jia, Zhenzhen; Tiwari, Sunil; Zhou, Jianhua; Farooq, Muhammad Umar; Fareed, Zeeshan

【Source】RESOURCES POLICY

【影响因子】8.222

【Abstract】In the context of the debate on Bitcoin, gold resources, and stock markets, the current study examines the nexus between the gold market, Bitcoin, and stock market returns. We explore the effects of gold resources, the stock market, and Bitcoin within the Chinese context using the data in Chinese currency and under the lens of the Chinese economic structure. We collected daily data from 3 November 2014 to 31 October 2019 on all our key variables of interest. The study employs the quantile-on-quantile and quantile regression methods for compre-hensive empirical analysis. Key findings suggest significant effects of Chinese stock market returns on Bitcoin and gold price effects on Bitcoin exist. In addition, gold prices negatively affect stock market returns and vice versa. The study offers novel implications regarding future cryptocurrency policies, stock markets, and resources in a Chinese context.

【Keywords】Bitcoin; Gold price; Stock market returns; Quantile and quantile; Chinese economic structure

【发表时间】2023 MAR

【收录时间】2023-04-11

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-数字货币