Public Interest Directorate: Publishing award bestowed on APA's No Safe Haven

1995 ◽  
Author(s):  
Tori DeAngelis
Keyword(s):  
Public Interest ◽  
Safe Haven

scholarly journals IS BITCOIN IMMUNE TO THE COVID-19 PANDEMIC?

2021 ◽  
Vol 10 ◽  
pp. 48-57
Author(s):  
S. Thomas Kim ◽  
Svetlana Orlova
Keyword(s):  
Public Interest ◽  
Market Quality ◽  
Safe Haven ◽  
Futures Trading ◽  
Trading Frequency ◽  
Price Reaction ◽  
Bid Ask Spread ◽  
Chicago Mercantile Exchange ◽  
Conditional Beta

This study examines how Bitcoin’s trading characteristics react to the COVID-19 pandemic, using detailed futures trading data from the Chicago Mercantile Exchange. The results show that volume-weighted Bitcoin futures return responds positively to the spikes of public interest. Meanwhile, the surges of pandemic information do not harm market quality. Volume, bid-ask spread, and trading frequency remain stable, indicating that the positive price reaction is not a result of a few small uninformed trades. Bitcoin's conditional beta on the S&P 500 index drops to near zero, while the conditional beta on gold more than doubles. These results indicate that traders have been using Bitcoin as a safe-haven asset after the pandemic outbreak.

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