Examines spillover effects among cryptocurrencies during the COVID-19 pandemic and Russia-Ukraine conflict, highlighting investment insights.
This study examines the impact of the COVID-19 pandemic and the Russia-Ukraine conflict on spillovers among five major cryptocurrencies. Using a Bayesian structural time series approach (BSTS), we find that Litecoin and Ethereum are the primary shock transmitters and receivers, while Tether is the least involved. The COVID-19 period significantly increased market interconnectedness, whereas the Russia-Ukraine conflict did not. Furthermore, cryptocurrency-specific uncertainty indices had a minimal influence on connectedness during these events. These findings offer insights for investors and policymakers on the resilience and behavior of cryptocurrency markets during crises.
No takes yet. Share an insight, caveat, or question.
Assaf et al. (2026) studied this question.
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: