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Trading cryptocurrencies as a pandemic pastime : COVID-19 lockdowns and Bitcoin volume

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dc.contributor.authorGuzmán Vásquez, Alexanderspa
dc.contributor.authorPinto Gutiérrez, Cristian A.spa
dc.contributor.authorTrujillo Dávila , María Andreaspa
dc.contributor.orcidGuzmán Vásquez, Alexander [0000-0001-7675-048X]
dc.contributor.orcidPinto Gutiérrez, Cristian A. [0000-0002-7981-4968]
dc.contributor.orcidTrujillo Dávila, María Andrea [0000-0002-9592-7890]
dc.contributor.scopusGuzmán Vásquez, Alexander [55207224400]
dc.contributor.scopusPinto Gutiérrez, Cristian A. [57191261953]
dc.contributor.scopusTrujillo Dávila, María Andrea [55206416700]
dc.date.accessioned2023-06-21T22:23:01Z
dc.date.available2023-06-21T22:23:01Z
dc.date.issued2021-07-27
dc.description.abstractenglishThis paper examines the impact of COVID-19 lockdowns on Bitcoin trading volume. Using data from Apple mobility trends and several time-series econometric models, we find that investors became active participants during the COVID-19 pandemic period and traded more bitcoins on days with low mobility associated with lockdown mandates. These results remain robust after controlling for stocks and gold returns, the VIX index, and the level of attention and sentiment toward Bitcoin, as measured by Google search frequencies and the tone of Tweets discussing Bitcoin. These results suggest that when individual investors have ample free time on their hands, they trade cryptocurrencies as a pastime and use the Bitcoin market as a form of entertainment. Moreover, our results have important implications concerning investors’ herding behavior and overconfidence leading to noise trader risks and bubbles typically accompanied by high trading volume in cryptocurrency markets.eng
dc.description.orcidhttps://orcid.org/0000-0001-7675-048X
dc.description.orcidhttps://orcid.org/0000-0002-7981-4968
dc.description.orcidhttps://orcid.org/0000-0002-9592-7890
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55207224400
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=57191261953
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=55206416700
dc.identifier.doihttps://doi.org/10.3390/math9151771
dc.identifier.eissn2227-7390
dc.identifier.instnameinstname:Colegio de Estudios Superiores de Administración – CESA
dc.identifier.reponamereponame:Biblioteca Digital – CESA
dc.identifier.repourlrepourl:https://repository.cesa.edu.co/
dc.identifier.urihttp://hdl.handle.net/10726/5056
dc.language.isoeng
dc.publisherMDPI AG
dc.relation.citationissue15
dc.relation.citationvolume9
dc.relation.ispartofjournalMathematics
dc.rights.accessrightsinfo:eu-repo/semantics/openAccess
dc.rights.coarhttp://purl.org/coar/access_right/c_abf2
dc.rights.localAbierto (Texto Completo)
dc.subject.proposalBitcoin
dc.subject.proposalTrading
dc.subject.proposalVolume
dc.subject.proposalCOVID-19
dc.subject.proposalLockdowns
dc.subject.proposalInvestor attention
dc.titleTrading cryptocurrencies as a pandemic pastime : COVID-19 lockdowns and Bitcoin volumeeng
dc.typearticle
dc.type.coarhttp://purl.org/coar/resource_type/c_2df8fbb1
dc.type.coarversionhttp://purl.org/coar/version/c_71e4c1898caa6e32
dc.type.driverinfo:eu-repo/semantics/article
dc.type.redcolhttp://purl.org/redcol/resource_type/ART
dc.type.versioninfo:eu-repo/semantics/acceptedVersion

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