( 2020) focus on the safe haven properties of Bitcoin, Ethereum and Tether during the pandemic from the perspective of global stock market investors.
( 2020) document sharp, short-term, dynamic correlations between Bitcoin and Chinese stock markets after the outbreak of COVID-19 pandemic. This leads to a doubt on the ability of Bitcoin providing shelter from turbulence. When Bitcoin is included in the portfolio along with S&P 500, downside risk of the portfolio increases significantly. By using two-moment value at risk, Conlon and McGee ( 2020) show that Bitcoin does not act as a safe haven and moves in a similar pattern with S&P 500. Likewise, studies exploring the impact of the recent pandemic on cryptocurrencies have emerged rapidly after the outbreak of COVID-19. Section 4 presents the results, and last section concludes the paper.Ĭryptocurrencies, especially Bitcoin, has attracted the attention of researchers and finance literature examines them in terms of efficiency, performance, hedging properties, and relationship with traditional financial assets. Section 3 explains the data and methodology. Section 2 briefly summarizes the studies examining the impact of COVID-19 on cryptocurrency market. The rest of the paper is organized as follows. This is in line with previous studies that provide evidence on the hedging role of Bitcoin against uncertainty (Demir et al. In the beginning, their pricing behaved like that of traditional assets, but it starts to become a hedge as the effect of COVID-19 materializes. This shows the hedging role of cryptocurrencies against the uncertainty raised by COVID-19. The findings for Ethereum and Ripple are also similar to the Bitcoin evidence, however, the interactions are weaker compared to Bitcoin. The wavelet coherence analysis indicates that there is initially a negative relationship between the number of reported cases and deaths and Bitcoin however, the relationship becomes positive in the later period. In this paper, we use daily US$ prices of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) for the period of to. It is documented that stringent policy responses cause a rise in return volatility. ( 2020) explore the association between policy responses to the COVID-19 pandemic and stock market volatility. This relationship becomes significantly tighter during the Covid-19 period. ( 2020) explore the volatility relationship between the Chinese stock markets and Bitcoin. ( 2020) show that the uncertainty raised by COVID-19 makes stock markets more volatile and unpredictable. ( 2020) focus on the Chinese stock market and document that both the daily growth in reported cases and the increasing number of deaths caused by COVID-19 lead to a decrease in stock returns. He finds that the number of infections and deaths in Italy, Spain, the UK, Iran, and France does not affect the stock market returns except for the number of reported cases in China. Onali ( 2020) explores the effect of COVID-19 cases and deaths on Dow Jones and S&P500 indexes. The interest of the financial researchers on the impacts of COVID-19 on financial markets is rapidly rising. The governments are implementing several restrictions such as travel bans, school closures, and curfews, and the lives of billions are affected. World Health Organization declared this outbreak a global pandemic.
Even so, we should expect to see several new variations appear in the near future so should remain vigilant.Coronavirus (COVID-19) outbreak, which began in Wuhan, China, has rapidly spread all over the world infecting millions of people and causing thousands of deaths.
The new email borne threat is only just now being added to definition files by the Antivirus vendors around the world so most people will shortly be protected.
The email then goes on to explain that "a courier did not deliver a parcel." The email has links to either download information or unsubscribe, both of which will attempt to install the Cryptolocker Ransomware on your system. The current outbreak is being delivered disguised as emails from Australia Post advising in the subject line that "You've got a parcel". This time it is the Cryptolocker Ransomware which infects your machine and then goes about systematically encrypting files on your system and mapped server drives. Just when you thought it was safe to go back in the water and click on any and all email links, the Cyber Villains have come up with a new way to spread the love.