Volatility in Cryptocurrency Prices During COVID-19

Chang Ding

Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, July 7–9, 2023, Chongqing, China

Research Article

Volatility in Cryptocurrency Prices During COVID-19

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Cite: BibTeX Plain Text

@INPROCEEDINGS{10.4108/eai.7-7-2023.2338050,
    author={Chang  Ding},
    title={Volatility in Cryptocurrency Prices During COVID-19},
    proceedings={Proceedings of the 2nd International Conference on Financial Innovation, FinTech and Information Technology, FFIT 2023, July 7--9, 2023, Chongqing, China},
    publisher={EAI},
    proceedings_a={FFIT},
    year={2023},
    month={10},
    keywords={cryptocurrency time series covid-19},
    doi={10.4108/eai.7-7-2023.2338050}
}

Chang Ding
Year: 2023
Volatility in Cryptocurrency Prices During COVID-19
FFIT
EAI
DOI: 10.4108/eai.7-7-2023.2338050

Chang Ding¹^,*

1: Xi'an Jiaotong Liverpool University

*Contact email: Chang.Ding22@student.xjtlu.edu.cn

Abstract

This paper examines how COVID-19 affects the volatility and forecasting of Bitcoin price. It compares the cryptocurrency market with traditional financial markets using descriptive statistics and risk indicators. The cryptocurrency market experienced significant fluctuations during the pandemic, affecting prices and trading volume. The ARIMA(1,1,1) model was selected and used to forecast the Bitcoin price, showing relatively low volatility in the coming months, and evaluates the model performance using MAPE and RMSE.

Keywords: cryptocurrency time series covid-19

Published: 2023-10-26
Publisher: EAI

: http://dx.doi.org/10.4108/eai.7-7-2023.2338050