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Transitions in the cryptocurrency market during the COVID-19 pandemic: A network analysis
In this letter, we identify the transitions of the cryptocurrency market during the pandemic by means of a network analysis. This method allows us to observe that COVID-19 significantly affected cryptocurrencies during a short period of financial panic, from 12 March 2020 to 1 April 2020, giving ris...
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
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Elsevier Inc.
2021
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| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8597403/ https://www.ncbi.nlm.nih.gov/pubmed/34812254 http://dx.doi.org/10.1016/j.frl.2021.101981 |
| Sumario: | In this letter, we identify the transitions of the cryptocurrency market during the pandemic by means of a network analysis. This method allows us to observe that COVID-19 significantly affected cryptocurrencies during a short period of financial panic, from 12 March 2020 to 1 April 2020, giving rise to a remarkable increase of market synchronisation. However, since April 2020, the cryptocurrency market progressively recovered its initial state, since the strong synchronisation, observed as a consequence of COVID-19, continuously disappeared. Therefore, our analysis highlights different market phases, which can be related to some of the phenomena reported in the existing literature. |
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