Does Fear of Covid-19 Trigger Fear Of Bitcoin?

Year 2021, Issue: 3, 89 - 102, 31.03.2021

Ünal Gülhan

Abstract

This study aims that Bitcoin prices are considered as dependent variables, and the total number of Coronavirus cases in the world, Ethereum Prices, Gold Prices, Coronavirus Google Trend Index, and Crypto Money Google Trend Index are considered as independent variables. Using the ARDL model, it was analyzed with a daily data set between 21.01.2020 - 04.04.2020. It is concluded that the relationship between the variables included in the analysis and Bitcoin prices exists co-integrated in the long term. Within the framework of the findings, investors' fears were interpreted by associating them with Bitcoin and Covid-19.

Keywords

Covid-19, Bitcoin Prices, ARDL

COVID-19 Korkusu Bitcoin Korkusunu Tetikler mi?

Abstract

Bitcoin fiyatlarının bağımlı değişken olarak kabul edildiği bu çalışmada, dünyadaki toplam Coronavirüs vaka sayısı, Ethereum Fiyatları, Altın Fiyatları, Koronavirüs Google Trend Endeksi ve Crypto Money Google Trend Endeksi bağımsız değişkenler olarak analize dahil edilmiştir. 21.01.2020 - 04.04.2020 tarihleri &&arasında günlük veri seti ARDL modeli kullanılarak analiz edilmiştir. Yapılan ARDL analiz sonuçlarına göre bağımsız değişkenler ile Bitcoin fiyatları arasında uzun dönemli ilişkili olduğu tespit edilmiştir. Bulgular çerçevesinde yatırımcıların korkuları Bitcoin fiyatları ve Covid-19 vaka sayıları ile ilişkilendirilerek yorumlanmıştır.

Keywords

Covid-19, Bitcoin Fiyatları, ARDL

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