Investor Attention in Cryptocurrency Markets: Examining the Effects of Vaccination and COVID-19 Spread through a Wavelet Approach

Maher Abida and Emna Mnif
Additional contact information
Maher Abida: Higher Institute of Business Administration, University of Sfax, Tunisia,
Emna Mnif: Graduate School of Commerce of Sfax, University of Sfax, Tunisia.

International Journal of Economics and Financial Issues, 2023, vol. 13, issue 5, 43-51

Abstract: The main goal of this paper is to determine how vaccination and the spread of COVID-19 have influenced investor interest in cryptocurrency. The paper quantifies the reproduction number of COVID-19 worldwide and in specific countries. It evaluates cryptocurrency volatility using various time scale frequencies by employing the Wavelet approach. Additionally, this research examines how investor interest in these sectors was impacted by immunizations and pandemic transmission. Our research demonstrates that during the COVID-19 epidemic, cryptocurrency volatility is greater across extended trade horizons and decreases following the introduction of immunizations. Furthermore, vaccination levels and the spread of COVID-19 significantly affect investor attention in the top three cryptocurrency markets. This work has several implications, such as highlighting the effect of COVID-19's spread in increasing the volatility of cryptocurrency markets and the role of vaccinations in reducing risks and increasing investor attention. The results of this study aid in forecasting bitcoin market activity and price movements, creating trading opportunities in the bitcoin market. The empirical findings will provide valuable insights for policymakers and investors, enabling them to develop better investment strategies. To the best of our knowledge, this study is the first to employ the R-number to calculate the effect of the COVID-19 vaccine and dissemination on cryptocurrency markets.

Keywords: Contagion Spread; Investor Attention Reproduction Number; COVID-19; Cryptocurrency; Wavelet Approach (search for similar items in EconPapers)
JEL-codes: G10 G13 G4 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijefi/article/download/14727/7485 (application/pdf)
https://www.econjournals.com/index.php/ijefi/article/view/14727 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2023-05-6

Access Statistics for this article

International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk

More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().