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

被引：317

作者：

Goodell, John W. ^{[1
]}

Goutte, Stephane ^{[2
,3
]}

机构：

[1] Univ Akron, Dept Finance, Akron, OH 44325 USA

[2] Univ Paris Saclay, CEMOTEV, UVSQ, F-78280 Guyancourt, France

[3] Paris Sch Business, 59 Rue Natl, F-75013 Paris, France

来源：

FINANCE RESEARCH LETTERS | 2021年 / 38卷

关键词：

Co-movement; COVID-19; Bitcoin; Wavelet; Safe haven; SAFE HAVEN; GOLD; HEDGE; CAUSALITY; ECONOMICS;

D O I：

10.1016/j.frl.2020.101625

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

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.

引用

页数：6

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