Bitcoin and altcoins price dependency: Resilience and portfolio allocation in COVID-19 outbreak
| Autor: | Asad ul Islam Khan, Humeyra Topuz, Ahmet Faruk Aysan |
|---|---|
| Přispěvatelé: | Khan, Asad ul Islam |
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
G28
Cryptocurrency Financial economics Strategy and Management media_common.quotation_subject Economics Econometrics and Finance (miscellaneous) accounting bitcoin lcsh:HG8011-9999 Economía lcsh:Insurance price dependency C30 Order (exchange) Accounting 0502 economics and business Pandemic ddc:330 050207 economics E58 media_common 050208 finance cointegration Cointegration 05 social sciences COVID-19 Investment (macroeconomics) O35 Sustainability Stock market Business Psychological resilience Empresa altcoins |
| Zdroj: | Risks Volume 9 Issue 4 Risks, Vol 9, Iss 74, p 74 (2021) |
| Popis: | This article belongs to the Special Issue Financial Stability and Systemic Risk in Times of Pandemic. The main aim of this article is to examine the inter-relationships among the top cryptocurrencies on the crypto stock market in the presence and absence of the COVID-19 pandemic. The nine chosen cryptocurrencies are Bitcoin, Ethereum, Ripple, Litecoin, Eos, BitcoinCash, Binance, Stellar, and Tron and their daily closing price data are captured from coinmarketcap over the period from 13 September 2017 to 21 September 2020. All of the cryptocurrencies are integrated of order 1 i.e., I(1). There is strong evidence of a long-run relationship between Bitcoin and altcoins irrespective of whether it is pre-pandemic or pandemic period. It has also been found that these cryptocurrencies prices and their inter-relationship are resilient to the pandemic. It is recommended that when the investors create investment plans and strategies they may highly consider Bitcoin and altcoins jointly as they give sustainability and resilience in the long run against the geopolitical risks and even in the tough time of the COVID-19 pandemic. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|