Trading Cryptocurrencies as a Pandemic Pastime: COVID-19 Lockdowns and Bitcoin Volume

Pinto-Gutierrez, Christian A.

doi:10.2139/ssrn.3770383

SSRN Journal

2021

DOI: 10.2139/ssrn.3770383

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Trading Cryptocurrencies as a Pandemic Pastime: COVID-19 Lockdowns and Bitcoin Volume

Christian A. Pinto-Gutierrez

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Cited by 6 publications

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Impact of COVID-19 Pandemic News on the Cryptocurrency Market and Gold Returns: A Quantile-on-Quantile Regression Analysis

Mahdi¹,

Al-Abdulla²

2022

Econometrics

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In this paper, we investigate the relationship between the RavenPack news-based index associated with coronavirus outbreak (Panic, Sentiment, Infodemic, and Media Coverage) and returns of two commodities—Bitcoin and gold. We utilized the novel quantile-on-quantile approach to uncover the dependence between the news-based index associated with coronavirus outbreak and Bitcoin and gold returns. Our results reveal that the daily levels of positive and negative shocks in indices induced by pandemic news asymmetrically affect the Bearish and Bullish on Bitcoin and gold, and fear sentiment induced by coronavirus-related news plays a major role in driving the values of Bitcoin and gold more than other indices. We find that both commodities, Bitcoin and gold, can serve as a hedge against pandemic-related news. In general, the COVID-19 pandemic-related news encourages people to invest in gold and Bitcoin.

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Impact of COVID-19 Pandemic News on the Cryptocurrency Market and Gold Returns: A Quantile-on-Quantile Regression Analysis

Mahdi¹,

Al-Abdulla²

2022

Econometrics

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The Apple Mobility Trends Data in Human Mobility Patterns during Restrictions and Prediction of COVID-19: A Systematic Review and Meta-Analysis

Strzelecki

2022

Healthcare

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The objective of this systematic review with PRISMA guidelines is to discover how population movement information has epidemiological implications for the spread of COVID-19. In November 2022, the Web of Science and Scopus databases were searched for relevant reports for the review. The inclusion criteria are: (1) the study uses data from Apple Mobility Trends Reports, (2) the context of the study is about COVID-19 mobility patterns, and (3) the report is published in a peer-reviewed venue in the form of an article or conference paper in English. The review included 35 studies in the period of 2020–2022. The main strategy used for data extraction in this review is a matrix proposal to present each study from a perspective of research objective and outcome, study context, country, time span, and conducted research method. We conclude by pointing out that these data are not often used in studies and it is better to study a single country instead of doing multiple-country research. We propose topic classifications for the context of the studies as transmission rate, transport policy, air quality, re-increased activities, economic activities, and financial markets.

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Exploring the Driving Forces of Stock-Cryptocurrency Comovements during COVID-19 Pandemic: An Analysis Using Wavelet Coherence and Seemingly Unrelated Regression

et al. 2022

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This paper estimates the comovement between two leading cryptocurrencies and the G7 stock markets. It then attempts to explain the comovement with the rational investment theory by examining whether it is driven by market uncertainty measures, public attention to COVID-19, and the government’s containment and health responses to COVID-19. Wavelet Coherence heatmaps show that the stock-cryptocurrency comovements increase significantly and positively during the pandemic, indicating that cryptocurrencies lose their safe haven properties against stocks during the heightened market uncertainties. Over the longer investment horizons, Bitcoin reemerges as a safe haven or strong hedger while Ethereum’s properties weaken. Seemingly Unrelated Regression results reveal that the stock-cryptocurrency comovements are rationally explained by market uncertainties, government responses to COVID-19, and market fundamentals. However, the comovements are also driven by the fear of COVID-19 to a certain extent. Our findings offer valuable insights for investors considering cryptocurrencies to rebalance their equity portfolios during market distress. For policymakers, the Economic Policy Uncertainty (EPU) results suggest that government policies and regulatory frameworks can be used to regulate speculation and investment activities in the cryptocurrency market.

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Trading Cryptocurrencies as a Pandemic Pastime: COVID-19 Lockdowns and Bitcoin Volume

Cited by 6 publications

References 4 publications

Impact of COVID-19 Pandemic News on the Cryptocurrency Market and Gold Returns: A Quantile-on-Quantile Regression Analysis

Impact of COVID-19 Pandemic News on the Cryptocurrency Market and Gold Returns: A Quantile-on-Quantile Regression Analysis

The Apple Mobility Trends Data in Human Mobility Patterns during Restrictions and Prediction of COVID-19: A Systematic Review and Meta-Analysis

Exploring the Driving Forces of Stock-Cryptocurrency Comovements during COVID-19 Pandemic: An Analysis Using Wavelet Coherence and Seemingly Unrelated Regression

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