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Bitcoin and the First Wave of COVID-19

In: COVID-19 Pandemic and Energy Markets Commodity Markets, Cryptocurrencies and Electricity Consumption under the COVID-19

Author

Listed:
  • John W. Goodell
  • Stéphane Goutte

Abstract

Extending the time period of Goodell and Goutte (2020), we apply wavelet methods to daily data of COVID-19 world deaths and daily Bitcoin prices from December 31, 2019 to August 31, 2020. We confirm Goodell and Goutte (2020) for an extended period by evidencing a positive correlation between levels of COVID-19 and Bitcoin prices, suggesting Bitcoin as a safe haven investment. Investigations such as this are important to both scholars and policy-makers, as well as investment professionals interested in the financial implications of both COVID-19 and cryptocurrencies.

Suggested Citation

  • John W. Goodell & Stéphane Goutte, 2021. "Bitcoin and the First Wave of COVID-19," World Scientific Book Chapters, in: Khaled Guesmi (ed.), COVID-19 Pandemic and Energy Markets Commodity Markets, Cryptocurrencies and Electricity Consumption under the COVID-19, chapter 3, pages 33-41, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811239618_0003
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    More about this item

    Keywords

    COVID-19; Vaccines; ANCOVA; Carbon Emissions; Natural Gas; Crude Oil; Market Co-Movement; Cryptocurrencies; CO2 Emissions; Financial Volatility; VIX; Bitcoin; Gold Oil Price War; Health Crisis; S&P GS Commodity Index; Consumption of Electricity; The Behavior of Electricity Consumption; Social Interactivity; Flow State; Energy Consumption Culture; Life Style; Teleworking; De-globalization; Eating Habits;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics

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