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Open Access
Article
Publication date: 28 April 2020

Tuotuo Qi, Tianmei Wang, Jianming Zhu and Ruyu Bai

The encrypted money market has attracted the attention of investors all over the world. Among the encrypted currency, bitcoin is undoubtedly the most popular. Because blockchain…

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Abstract

Purpose

The encrypted money market has attracted the attention of investors all over the world. Among the encrypted currency, bitcoin is undoubtedly the most popular. Because blockchain technology is the crucial support of bitcoin, exploring the relationship between bitcoin and the blockchain index is necessary.

Design/methodology/approach

This paper uses the Granger causality test to explore the correlation between bitcoin and the blockchain index. Furthermore, their volatility is analyzed by a GARCH-class model.

Findings

The results show that no significant correlation exists between bitcoin and the blockchain index; external shocks aggravate the volatility of bitcoin and the blockchain index, and the volatility has a certain degree of sustainability; and blockchain index has obvious leverage, namely, its decline has a stronger impact.

Originality/value

The volatility of bitcoin and the blockchain index is crucial for investors.

Details

International Journal of Crowd Science, vol. 4 no. 2
Type: Research Article
ISSN: 2398-7294

Keywords

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