 Impacts of Stock Indices, Oil, and Twitter Sentiment on Major Cryptocurrencies during the COVID-19 First Wave?ikolaos A. Kyriazis Bulletin of Applied Economics, 2021, vol. 8, issue 2, 133-146 Abstract: This paper sets under scrutiny whether the S&P500, oil, and Twitter-based uncertainty about financial markets affect the returns and volatility of three major cryptocurrencies. Estimations are conducted concerning Bitcoin, Bitcoin Cash, and Dogecoin during the first wave of the COVID-19 pandemic. Findings document that Twitter uncertainty exhibits a weaker impact on cryptocurrencies than the S&P500 and crude oil. S&P500 constitutes a positive and significant determinant while impacts of oil are weaker and mixed. The volatility of cryptocurrencies is found to display a non-linear character. Moreover, it is revealed that Dogecoin could be more useful to investors as a speculative tool than Bitcoin and Bitcoin Cash. These outcomes inform the interested reader that traditional investments are influential in a much larger degree towards modern financial assets than investor sentiment when economic conditions are stressed. Keywords: Twitter Sentiment; Stock; Oil; Cryptocurrency; COVID-19 pandemic. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:rmk:rmkbae:v:8:y:2021:i:2:p:133-146 Access Statistics for this article Bulletin of Applied Economics is currently edited by Eleftherios Spyromitros More articles in Bulletin of Applied Economics from Risk Market Journals |
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