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Google Trends and cryptocurrencies: a nonparametric causality-in-quantiles analysis

Author

Listed:
  • Syed Ali Raza
  • Larisa Yarovaya
  • Khaled Guesmi
  • Nida Shah

Abstract

Purpose - This article aims to uncover the impact of Google Trends on cryptocurrency markets beyond Bitcoin during the time of increased attention to altcoins, especially during the COVID-19 pandemic. Design/methodology/approach - This paper analyses the nexus among the Google Trends and six cryptocurrencies, namely Bitcoin, New Economy Movement (NEM), Dash, Ethereum, Ripple and Litecoin by utilizing the causality-in-quantiles technique on data comprised of the years January 2016–March 2021. Findings - The findings show that Google Trends cause the Litecoin, Bitcoin, Ripple, Ethereum and NEM prices at majority of the quantiles except for Dash. Originality/value - The findings will help investors to develop more in-depth understanding of impact of Google Trends on cryptocurrency prices and build successful trading strategies in a more matured digital assets ecosystem.

Suggested Citation

  • Syed Ali Raza & Larisa Yarovaya & Khaled Guesmi & Nida Shah, 2022. "Google Trends and cryptocurrencies: a nonparametric causality-in-quantiles analysis," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 18(12), pages 5972-5989, May.
    • Handle: RePEc:eme:ijoemp:ijoem-10-2021-1522
    DOI: 10.1108/IJOEM-10-2021-1522
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