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Impact of COVID-19 on Cryptocurrency Markets

Author

Listed:
  • Oana Oprisan

    ("Ovidius" University of Constanta, Faculty of Economic Sciences, Romania)

  • Ana-Maria Dumitrache (Serbanescu)

    (The Buchаrest University of Economic Studies, Romania)

Abstract

The pandemic has caused enormous economic costs by affecting banks, governments and financial markets. In this context, the main purpose of this paper is to show that cryptocurrencies have become one of the most traded financial assets in the last decade. The overall objective pursued in the paper was the major effect on the global economy and financial markets that the COVID-19 Pandemic had and which was the first real global shock since the first cryptocurrency was launched in 2009 until now. Natural disasters and pandemics are a source of contagion in global financial markets and an emerging line of research. Financial contagion can be the result of both financial and non-financial events, but in both cases, assessments require defining a timeframe.

Suggested Citation

  • Oana Oprisan & Ana-Maria Dumitrache (Serbanescu), 2023. "Impact of COVID-19 on Cryptocurrency Markets," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1046-1052, August.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:1046-1052
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    More about this item

    Keywords

    cryptocurrencies; financial markets; stock exchanges; stock trading;
    All these keywords.

    JEL classification:

    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • G01 - Financial Economics - - General - - - Financial Crises
    • G1 - Financial Economics - - General Financial Markets
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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