The impact of COVID-19 on cryptocurrency markets: A network analysis based on mutual information.

ABSTRACT: The purpose of our study is to figure out the transitions of the cryptocurrency market due to the outbreak of COVID-19 through network analysis, and we studied the complexity of the market from different perspectives. To construct a cryptocurrency network, we first apply a mutual information method to the daily log return values of 102 digital currencies from January 1, 2019, to December 31, 2020, and also apply a correlation coefficient method for comparison. Based on these two methods, we construct networks by applying the minimum spanning tree and the planar maximally filtered graph. Furthermore, we study the statistical and topological properties of these networks. Numerical results demonstrate that the degree distribution follows the power-law and the graphs after the COVID-19 outbrea

SUBMITTER: Hong MY 

PROVIDER: S-EPMC8856560 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature