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

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 inv...

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Detalles Bibliográficos
Autores principales: Sarkodie, Samuel Asumadu, Ahmed, Maruf Yakubu, Owusu, Phebe Asantewaa
Formato: Online Artículo Texto
Lenguaje:English
Publicado: The Author(s). Published by Elsevier Inc. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9024312/
https://www.ncbi.nlm.nih.gov/pubmed/35475023
http://dx.doi.org/10.1016/j.frl.2021.102049
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author Sarkodie, Samuel Asumadu
Ahmed, Maruf Yakubu
Owusu, Phebe Asantewaa
author_facet Sarkodie, Samuel Asumadu
Ahmed, Maruf Yakubu
Owusu, Phebe Asantewaa
author_sort Sarkodie, Samuel Asumadu
collection PubMed
description 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 2.71-3.27%, Ethereum by 1.43-1.75%, and Bitcoin Cash by 1.34-1.62%.
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spelling pubmed-90243122022-04-22 COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin Sarkodie, Samuel Asumadu Ahmed, Maruf Yakubu Owusu, Phebe Asantewaa Financ Res Lett Article 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 2.71-3.27%, Ethereum by 1.43-1.75%, and Bitcoin Cash by 1.34-1.62%. The Author(s). Published by Elsevier Inc. 2022-01 2021-04-06 /pmc/articles/PMC9024312/ /pubmed/35475023 http://dx.doi.org/10.1016/j.frl.2021.102049 Text en © 2021 The Author(s) Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Sarkodie, Samuel Asumadu
Ahmed, Maruf Yakubu
Owusu, Phebe Asantewaa
COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin
title COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin
title_full COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin
title_fullStr COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin
title_full_unstemmed COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin
title_short COVID-19 pandemic improves market signals of cryptocurrencies–evidence from Bitcoin, Bitcoin Cash, Ethereum, and Litecoin
title_sort covid-19 pandemic improves market signals of cryptocurrencies–evidence from bitcoin, bitcoin cash, ethereum, and litecoin
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9024312/
https://www.ncbi.nlm.nih.gov/pubmed/35475023
http://dx.doi.org/10.1016/j.frl.2021.102049
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