Commodities and cryptocurrencies in the time of COVID-19
Published Date: 12/16/2021
Source: phys.org
What relationships might we extract from an examination of the changes in values of cryptocurrencies and commodities before and during the COVID-19 pandemic. New work published in the International Journal of Business Performance Management, looks at the relationship and causality between cryptocurrencies, commodities, currencies, indexes and web search results over this period. The team demonstrated that they could model the effects with up to 95% accuracy for the price of the cryptocurrencies they examined—Bitcoin and Ethereum. Moreover, they obtained strong evidence that web search traffic correlates with the prices of those two cryptocurrencies while the price of gold affects Bitcoin and the value of the Euro affects Ethereum. The web is perhaps the main source of information with respect to cryptocyurrency investments so this is perhaps not surprising.