Asymmetric nexus between Bitcoin, gold resources and stock market returns: Novel findings from quantile estimates

Zhenzhen Jia, Sunil Tiwari, Jianhua Zhou, Muhammad Umar Farooq and Zeeshan Fareed

Resources Policy, 2023, vol. 81, issue C

Abstract: In the context of the debate on Bitcoin, gold resources, and stock markets, the current study examines the nexus between the gold market, Bitcoin, and stock market returns. We explore the effects of gold resources, the stock market, and Bitcoin within the Chinese context using the data in Chinese currency and under the lens of the Chinese economic structure. We collected daily data from 3 November 2014 to 31 October 2019 on all our key variables of interest. The study employs the quantile-on-quantile and quantile regression methods for comprehensive empirical analysis. Key findings suggest significant effects of Chinese stock market returns on Bitcoin and gold price effects on Bitcoin exist. In addition, gold prices negatively affect stock market returns and vice versa. The study offers novel implications regarding future cryptocurrency policies, stock markets, and resources in a Chinese context.

Keywords: Bitcoin; Gold price; Stock market returns; Quantile and quantile; Chinese economic structure (search for similar items in EconPapers)
JEL-codes: G11 G14 G15 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (26)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:81:y:2023:i:c:s0301420723001137

DOI: 10.1016/j.resourpol.2023.103405

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