The relationship between cryptocurrencies and COVID-19 pandemic

We examine the relationship between cryptocurrencies (namely Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)) and COVID-19 cases/deaths. This will help explore whether cryptocurrencies can serve as a hedge against COVID-19. The wavelet coherence analysis indicates that there is initially a negative...

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Detalles Bibliográficos
Autores principales: Demir, Ender, Bilgin, Mehmet Huseyin, Karabulut, Gokhan, Doker, Asli Cansin
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer International Publishing 2020
Materias:
Original Paper
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7388435/
http://dx.doi.org/10.1007/s40822-020-00154-1
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author Demir, Ender
Bilgin, Mehmet Huseyin
Karabulut, Gokhan
Doker, Asli Cansin
author_facet Demir, Ender
Bilgin, Mehmet Huseyin
Karabulut, Gokhan
Doker, Asli Cansin
author_sort Demir, Ender
collection PubMed
description We examine the relationship between cryptocurrencies (namely Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)) and COVID-19 cases/deaths. This will help explore whether cryptocurrencies can serve as a hedge against COVID-19. The wavelet coherence analysis indicates that there is initially a negative relationship between Bitcoin and the number of reported cases and deaths; however, the relationship becomes positive during the later period. The findings for Ethereum and Ripple are also similar but with weaker interactions. This supports the hedging role of cryptocurrencies against the uncertainty raised by COVID-19.
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spelling pubmed-73884352020-07-29 The relationship between cryptocurrencies and COVID-19 pandemic Demir, Ender Bilgin, Mehmet Huseyin Karabulut, Gokhan Doker, Asli Cansin Eurasian Econ Rev Original Paper We examine the relationship between cryptocurrencies (namely Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)) and COVID-19 cases/deaths. This will help explore whether cryptocurrencies can serve as a hedge against COVID-19. The wavelet coherence analysis indicates that there is initially a negative relationship between Bitcoin and the number of reported cases and deaths; however, the relationship becomes positive during the later period. The findings for Ethereum and Ripple are also similar but with weaker interactions. This supports the hedging role of cryptocurrencies against the uncertainty raised by COVID-19. Springer International Publishing 2020-07-29 2020 /pmc/articles/PMC7388435/ http://dx.doi.org/10.1007/s40822-020-00154-1 Text en © Eurasia Business and Economics Society 2020 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Original Paper
Demir, Ender
Bilgin, Mehmet Huseyin
Karabulut, Gokhan
Doker, Asli Cansin
The relationship between cryptocurrencies and COVID-19 pandemic
title The relationship between cryptocurrencies and COVID-19 pandemic
title_full The relationship between cryptocurrencies and COVID-19 pandemic
title_fullStr The relationship between cryptocurrencies and COVID-19 pandemic
title_full_unstemmed The relationship between cryptocurrencies and COVID-19 pandemic
title_short The relationship between cryptocurrencies and COVID-19 pandemic
title_sort relationship between cryptocurrencies and covid-19 pandemic
topic Original Paper
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7388435/
http://dx.doi.org/10.1007/s40822-020-00154-1
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