The correlation between the stock market and Bitcoin during COVID-19 and other uncertainty periods

Nguyen, Khanh Q.

doi:10.1016/j.frl.2021.102284

Cited by 73 publications

(42 citation statements)

References 12 publications

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“…As a step further, another research question is that whether any hedging asset exists during the crashes. As such, it extends the prior burgeoning debate on the hedging ability of cryptocurrencies in normal period ( Wu and Pandey, 2014 , Briere et al, 2015 , Eisl et al, 2015 , Bouri et al, 2017 , Corbet et al, 2020 , Klein et al, 2018 , Shahzad et al, 2019 ) to the post-pandemic period ( Goodell and Goutte, 2021 , Nguyen, 2021 , Raheem, 2021 ).…”

Section: Introductionsupporting

confidence: 56%

“…The COVID-19 pandemic provides us with a valuable window to reconcile this debate ( Goodell and Goutte, 2021 , Nguyen, 2021 , Raheem, 2021 ). On the one hand, because the COVID-19 pandemic has had a significant effect on the economic and social systems across the world, situations in the cryptocurrency market might have also been changed.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In this paper, we extend the analysis to the periods of uncertainty by first examining the effects of exposure to COVID-19 and the corresponding lockdown regulations on the price discrepancy of Bitcoins. 8 Unlike the conventional perspective that uncertainty in the post-COVID-19 period comes mainly from the COVID-19 pandemic itself (e.g., Zhang et al, 2020 , Mazur et al, 2021 , Nguyen, 2021 ), recent studies emphasize the role of governmental responses (e.g., Ashraf, 2020 , Zaremba et al, 2021 ). 9 Therefore, we utilize the nexus of COVID-19 bear and governmental intervention to measure the uncertainty within a country.…”

Section: Empirical Analysismentioning

confidence: 99%

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Cryptocurrency price discrepancies under uncertainty: Evidence from COVID-19 and lockdown nexus

Chen

Qin

Zhang

2022

Journal of International Money and Finance

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Section: Introductionsupporting

confidence: 56%

Section: Literature Reviewmentioning

confidence: 99%

Section: Empirical Analysismentioning

confidence: 99%

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Cryptocurrency price discrepancies under uncertainty: Evidence from COVID-19 and lockdown nexus

Chen

Qin

Zhang

2022

Journal of International Money and Finance

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“…In terms of finance and capital markets, researches have been performed to study the link between COVID-19 pandemic and financial aspects in the scope of banking [5][6][7][8][9], cryptocurrency [10][11][12][13][14][15][16], exchange rates [17][18], financial system [19], insurance [20], interest rates [21] and equity markets . In case of equity markets, the effects of COVID-19 outbreak has been investigated on the return [27-28, 41-43, 46] and volatility [26,32,[42][43][44] of the market in developed [22,29] and developing [39,45] economies.…”

Section: Introductionmentioning

confidence: 99%

COVID-19: A Game-changer to Equity Markets?

Golmohammadi

Fazelabdolabadi²

2021

J. Hum. Earth Future

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This article applies the effective transfer entropy methodology to quantify the information flow between equities in major global equity markets in Australia, Brazil, Canada, China, Germany, Iran, Japan, Qatar, Saudi Arabia, South Africa, South Korea, United Kingdom, and the United States – a pool of 2200 companies included. To account for COVID-19 impacts, the period of the study was extended over two years. The results show changes to the information flow pattern after COVID-19, with the largest changes being encountered in Australia, Brazil, Canada, Japan, and the United States – for their largest market participants (by market capitalization). In comparison, the Asian markets show less noticeable changes in their information flow pattern after COVID-19. On a sector level, most of the markets studied have seen substantial changes in the functionality of their sectors – in terms of being a transmitter or receiver of information – after COVID-19 appearance. The fraction of sectors with a complete change in their influencing role since COVID-19 has been over 70% in Australia, Canada, South Africa, and the United States. The financial services sector has retained its role - as being the most influencing sector - in 6 out of 13 markets considered after COVID-19. For most of the markets, the basic materials, communications, energy, and utilities sectors have retained an intermediate position in the information flow diagram, after COVID-19. The German market has been the only market, in which the main information transmitter and receiver sectors have remained unchanged, since COVID-19. The results suggest drastic moves in major global equity markets, which have been concurrent with the virus outbreak. Doi: 10.28991/HEF-2021-02-01-05 Full Text: PDF

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“…This investigation adds contributions to the literature, namely the global pandemic 2020 accentuated the co-movements between the G7 financial markets, and the cryptocurrencies Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Crypto 10. Authors Aslam et al (2020) and Nguyen (2021) have focused their research on the impact of the pandemic crisis on the existent correlation between stock markets and the cryptocurrencies, although, they haven't provided robust evidence.…”

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confidence: 99%

Untitled

2022

Balkans JETSS

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Aims and ScopeThe mission of Balkans JETSS is to publish peer-review empirical research papers that test, extend or build theory and contribute to practice. All empirical methods -including, but not limited to, qualitative, quantitative, field, laboratory, and combination methods are welcome. Empirical, theoretical and methodological articles from all major fields of economics, management, tourism, law and the like are featured in the journal. Theoretical and/or review articles that integrate existing bodies of research and that provide new insights into the field are also encouraged.To be published in the Balkans JETSS, a manuscript must take strong empirical and/or theoretical contributions to the subject field. Consequently, preference is given to submissions that test, extend or build strong theoretical frameworks while empirically examining issues with high importance for theory and practice.The journal is not tied to any particular discipline, level of analysis, or national context. Although, it focuses on Balkans region, all papers from related fields on any region or country are highly encouraged. Single country studies, multi-country or regional studies can be submitted.Manuscripts should not exceed 16 pages (450 word per page). This page limit includes all figures, tables, appendices and references. Copyright information For AuthorsAs soon as an article is accepted for publication, authors will be requested to assign copyright of the article (or to grant exclusive publication and dissemination rights) to the publisher. This will ensure the widest possible protection and dissemination of information under copyright laws. For ReadersWhile the advice and information in this journal is believed to be true and accurate at the date of its publication, neither the authors, the editors, nor the publisher can accept any legal responsibility for any errors or omissions that may have been made. The publisher makes no warranty, express or implied, with respect to the material contained herein.All articles published in this journal are protected by copyright, which covers the exclusive right to reproduce and distribute the article, as well as all translation rights. The use of general descriptive names, trade names, trademarks, etc., in this publication even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.

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The correlation between the stock market and Bitcoin during COVID-19 and other uncertainty periods

Cited by 73 publications

References 12 publications

Cryptocurrency price discrepancies under uncertainty: Evidence from COVID-19 and lockdown nexus

Cryptocurrency price discrepancies under uncertainty: Evidence from COVID-19 and lockdown nexus

COVID-19: A Game-changer to Equity Markets?

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