Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis

We apply wavelet methods to daily data of COVID-19 world deaths and daily Bitcoin prices from 31th December 2019 to 29th April 2020. We find, especially for the period post April 5, that levels of COVID-19 caused a rise in Bitcoin prices. We contribute to the fast-growing body of work on the financi...

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Detalles Bibliográficos
Autores principales: Goodell, John W., Goutte, Stephane
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2021
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9761190/
https://www.ncbi.nlm.nih.gov/pubmed/36569647
http://dx.doi.org/10.1016/j.frl.2020.101625
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author Goodell, John W.
Goutte, Stephane
author_facet Goodell, John W.
Goutte, Stephane
author_sort Goodell, John W.
collection PubMed
description We apply wavelet methods to daily data of COVID-19 world deaths and daily Bitcoin prices from 31th December 2019 to 29th April 2020. We find, especially for the period post April 5, that levels of COVID-19 caused a rise in Bitcoin prices. We contribute to the fast-growing body of work on the financial impacts of COVID-19, as well as to ongoing consideration of whether Bitcoin is a safe haven investment. Our results should be of great interest to both scholars and policy makers, as well as investment professionals interested in the financial implications of both COVID-19 and cryptocurrencies.
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spelling pubmed-97611902022-12-19 Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis Goodell, John W. Goutte, Stephane Financ Res Lett Article We apply wavelet methods to daily data of COVID-19 world deaths and daily Bitcoin prices from 31th December 2019 to 29th April 2020. We find, especially for the period post April 5, that levels of COVID-19 caused a rise in Bitcoin prices. We contribute to the fast-growing body of work on the financial impacts of COVID-19, as well as to ongoing consideration of whether Bitcoin is a safe haven investment. Our results should be of great interest to both scholars and policy makers, as well as investment professionals interested in the financial implications of both COVID-19 and cryptocurrencies. Elsevier Inc. 2021-01 2020-06-03 /pmc/articles/PMC9761190/ /pubmed/36569647 http://dx.doi.org/10.1016/j.frl.2020.101625 Text en © 2020 Elsevier Inc. All rights reserved. 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
Goodell, John W.
Goutte, Stephane
Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis
title Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis
title_full Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis
title_fullStr Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis
title_full_unstemmed Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis
title_short Co-movement of COVID-19 and Bitcoin: Evidence from wavelet coherence analysis
title_sort co-movement of covid-19 and bitcoin: evidence from wavelet coherence analysis
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9761190/
https://www.ncbi.nlm.nih.gov/pubmed/36569647
http://dx.doi.org/10.1016/j.frl.2020.101625
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