Announcement Effect of COVID-19 on Cryptocurrencies
Nuruddeen Usman, Kodili Nwanneka Nduka
Abstract
This study uses a fractional integration method to evaluate the efficiency of cryptocurrencies before and after the period COVID-19 had been announced as being a pandemic. Evidence of long memory is confirmed across all subsamples. Additionally, we find a greater degree of persistence during the COVID-19 pandemic period than in the pre-pandemic period.
Topics & Concepts
Coronavirus disease 2019 (COVID-19)CryptocurrencyPandemicPeriod (music)2019-20 coronavirus outbreakPersistence (discontinuity)Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)Long memoryEconometricsEconomicsComputer scienceVirologyMedicineComputer securityEngineeringInternal medicineOutbreakPhilosophyAestheticsGeotechnical engineeringVolatility (finance)DiseaseInfectious disease (medical specialty)Blockchain Technology Applications and SecurityMarket Dynamics and VolatilityFinancial Markets and Investment Strategies