Impact of COVID-19 on Cryptocurrency Markets

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.