Google Trends and cryptocurrencies: a nonparametric causality-in-quantiles analysis

Syed Raza, Larisa Yarovaya, Khaled Guesmi and Nida Shah

International Journal of Emerging Markets, 2022, vol. 18, issue 12, 5972-5989

Abstract: Purpose - This article aims to uncover the impact of Google Trends on cryptocurrency markets beyond Bitcoin during the time of increased attention to altcoins, especially during the COVID-19 pandemic. Design/methodology/approach - This paper analyses the nexus among the Google Trends and six cryptocurrencies, namely Bitcoin, New Economy Movement (NEM), Dash, Ethereum, Ripple and Litecoin by utilizing the causality-in-quantiles technique on data comprised of the years January 2016–March 2021. Findings - The findings show that Google Trends cause the Litecoin, Bitcoin, Ripple, Ethereum and NEM prices at majority of the quantiles except for Dash. Originality/value - The findings will help investors to develop more in-depth understanding of impact of Google Trends on cryptocurrency prices and build successful trading strategies in a more matured digital assets ecosystem.

Keywords: Google Trends; Cryptocurrencies; Bitcoin; NEM; Ripple; Dash; Ethereum; Litecoin; Nonparametric causality-in-quantiles test (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijoemp:ijoem-10-2021-1522

DOI: 10.1108/IJOEM-10-2021-1522

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