KRİPTOPARA OYNAKLIĞI: COVID-19 ÖNCESİ, SÜRESİ VE SONRASI

Yıl 2023, Cilt: 11 Sayı: 2, 624 - 635, 31.12.2023

Orhan Özaydın

https://doi.org/10.52122/nisantasisbd.1381131

Öz

Dünya Sağlık Örgütü'nün (WHO) Mart 2020'de Covid-19 pandemisini duyurması, ekonomik faaliyetleri ve finansal piyasaları olumsuz etkiledi. Geçmişi çok da eski olmayan blockchain teknolojisine sahip kripto paralar, dijital dönüşüm sayesinde Covid-19 döneminde yükselişe geçti ve finansal piyasalarda popüler hale geldi. Ancak, kripto para birimleri pandemi döneminden sonra kan kaybetti. Bu çalışma, 4 kripto para birimi (Bitcoin, Ethereum, Binance ve Litecoin) ve CCI30 endeksi verilerini kullanarak, iki kukla değişkenli otoregresif koşullu değişen varyans modelleri ile kripto para birimlerinin Covid-19 pandemi öncesi, süresi ve sonrasındaki volatilitesini incelemektedir. Sonuçlara göre, kripto para birimlerinin oynaklığı pandemi dönemi boyunca azalmaktadır, bunula birlikte pandemi döneminden sonra pandemi öncesine kıyasla daha da fazla azalmaktadır. Yatırımcılar, gelecekte yeniden popüler olma ihtimali olan bu riskli enstrümanlara yatırım yapma konusunda temkinli olmalıdır.

Anahtar Kelimeler

kriptopara, covid-19, oynalık, blokzincir

CRYPTOCURRENCY VOLATILITY: BEFORE, DURING AND AFTER COVID-19

Öz

The World Health Organization (WHO) announced the Covid-19 pandemic in March 2020, which had a negative impact on economic activities and financial markets. Cryptocurrencies with blockchain technology, whose history is not old, took off in the Covid-19 period thanks to digital transformation and became popular in the financial markets. However, the fact that cryptocurrencies lose blood after the pandemic period. This study examines the volatility of cryptocurrencies before, during and after the pandemic Covid-19 using data from 4 cryptocurrencies (Bitcoin, Ethereum, Binance and Litecoin) and the CCI30 index, using autoregressive conditional variance models with two dummy variables. According to the results, the volatility of cryptocurrencies decreases throughout the pandemic period, moreover, decreases more after the pandemic compared to the pre-pandemic period. Investors should be cautious about investing in these risky instruments, which may become popular again in the future, just in case.

Anahtar Kelimeler

Covid19, Cryptocurrencies, Volatility, Blockchain

Kaynakça

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