References
[1]. Nakamoto, S. (2008). Bitcoin: a peer-to-peer electronic cash system. Available at: https://Bitcoin.org/Bitcoin.pdf
[2]. Conlon, T., & McGee, R. (2020). Safe haven or risky hazard? Bitcoin during the COVID- 19 bear market. Finance Research Letters, 35, 101607.
[3]. Shahzad, S. J. H., Bouri, E., Roubaud, D., Kristoufek, L., & Lucey, B. (2019). Is Bitcoin a better safe-haven investment than gold and commodities? International Review of Financial Analysis, 63, 322-330.
[4]. Hasan, Md Bokhtiar, et al. "Are safe haven assets really safe during the 2008 global financial crisis and COVID- 19 pandemic?" Global Finance Journal 50 (2021): 100668.
[5]. Bouri, E., Gupta, R., Tiwari, A. K., & Roubaud, D. (2017). Does Bitcoin hedge global uncertainty? Evidence from wavelet-based quantile-in-quantile regressions. Finance Research Letters, 23, 87-95.
[6]. Bouri, E., Molnár, P., Azzi, G., Roubaud, D., & Hagfors, L. I. (2017). On the hedge and safe haven properties of Bitcoin: Is it really more than a diversifier? Finance Research Letters, 20,192- 198
[7]. Chkili, W., Rejeb, A. B., & Arfaoui, M. (2021). Does bitcoin provide hedge to Islamic stock markets for pre-and during COVID-19 outbreak? A comparative analysis with gold. Resources Policy, 74, 102407.
[8]. Luther, W . J., & Salter, A. W . (2017). Bitcoin and the bailout. The Quarterly Review of Economics and Finance, 66, 50-56.
[9]. Conlon, T., Corbet, S., & McGee, R. J. (2020). Are cryptocurrencies a safe haven for equity markets? An international perspective from the COVID- 19 pandemic. Research in International Business and Finance, 54, 101248.
[10]. Harvey, C. R. (2014). Bitcoin myths and facts. Available at SSRN 2479670.
[11]. Liew, J., Li, R. Z., Budavári, T., & Sharma, A. (2019). Cryptocurrency investing examined. The Journal of The British Blockchain Association, 8720.
[12]. Yermack, D. (2015). Is Bitcoin a real currency? An economic appraisal. In Handbook of digital currency (pp. 31-43). Academic Press.
[13]. Baur, D. G., Hong, K., & Lee, A. D. (2018). Bitcoin: Medium of exchange or speculative assets?. Journal of International Financial Markets, Institutions and Money, 54, 177- 189.
[14]. Baur, D. G., & McDermott, T. K. (2010). Is gold a safe haven? International evidence. Journal of Banking & Finance, 34(8), 1886- 1898.
[15]. Bouri, E., Shahzad, S. J. H., Roubaud, D., Kristoufek, L., & Lucey, B. (2020). Bitcoin, gold, and commodities as safe havens for stocks: New insight through wavelet analysis. The Quarterly Review of Economics and Finance, 77, 156- 164.
[16]. Klein, T., Thu, H. P., & Walther, T. (2018). Bitcoin is not the New Gold–A comparison of volatility, correlation, and portfolio performance. International Review of Financial Analysis, 59,105- 1 16.
[17]. Smales, L. A. (2019). Bitcoin as a safe haven: Is it even worth considering? Finance Research Letters, 30, 385-393.
[18]. Kindleberger, C.P., 1978. Manias, Panics and Crashes: A History of Financial Crises. Palgrave Macmillan.
[19]. Glosten, L. R., Jagannathan, R., & Runkle, D. E. ( 1993). On the relation between the expected value and the volatility of the nominal excess return on stocks. Journal of Finance, 48, 1779– 1801.
[20]. Taleb, N. N. (2005). Fooled by randomness: The hidden role of chance in life and in the markets (Vol. 1). Random House Trade Paperbacks.
[21]. Cont, R. (2007). Volatility clustering in financial markets: empirical facts and agent-based models. In Long memory in economics (pp. 289-309). Springer, Berlin, Heidelberg.
Cite this article
Hu,J.;Zhang,Z.;Gao,Y.;Chen,S. (2023). Is Bitcoin a Safe Haven for US Equity Market? --A Comparison with Gold and the Dollar. Advances in Economics, Management and Political Sciences,3,555-563.
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References
[1]. Nakamoto, S. (2008). Bitcoin: a peer-to-peer electronic cash system. Available at: https://Bitcoin.org/Bitcoin.pdf
[2]. Conlon, T., & McGee, R. (2020). Safe haven or risky hazard? Bitcoin during the COVID- 19 bear market. Finance Research Letters, 35, 101607.
[3]. Shahzad, S. J. H., Bouri, E., Roubaud, D., Kristoufek, L., & Lucey, B. (2019). Is Bitcoin a better safe-haven investment than gold and commodities? International Review of Financial Analysis, 63, 322-330.
[4]. Hasan, Md Bokhtiar, et al. "Are safe haven assets really safe during the 2008 global financial crisis and COVID- 19 pandemic?" Global Finance Journal 50 (2021): 100668.
[5]. Bouri, E., Gupta, R., Tiwari, A. K., & Roubaud, D. (2017). Does Bitcoin hedge global uncertainty? Evidence from wavelet-based quantile-in-quantile regressions. Finance Research Letters, 23, 87-95.
[6]. Bouri, E., Molnár, P., Azzi, G., Roubaud, D., & Hagfors, L. I. (2017). On the hedge and safe haven properties of Bitcoin: Is it really more than a diversifier? Finance Research Letters, 20,192- 198
[7]. Chkili, W., Rejeb, A. B., & Arfaoui, M. (2021). Does bitcoin provide hedge to Islamic stock markets for pre-and during COVID-19 outbreak? A comparative analysis with gold. Resources Policy, 74, 102407.
[8]. Luther, W . J., & Salter, A. W . (2017). Bitcoin and the bailout. The Quarterly Review of Economics and Finance, 66, 50-56.
[9]. Conlon, T., Corbet, S., & McGee, R. J. (2020). Are cryptocurrencies a safe haven for equity markets? An international perspective from the COVID- 19 pandemic. Research in International Business and Finance, 54, 101248.
[10]. Harvey, C. R. (2014). Bitcoin myths and facts. Available at SSRN 2479670.
[11]. Liew, J., Li, R. Z., Budavári, T., & Sharma, A. (2019). Cryptocurrency investing examined. The Journal of The British Blockchain Association, 8720.
[12]. Yermack, D. (2015). Is Bitcoin a real currency? An economic appraisal. In Handbook of digital currency (pp. 31-43). Academic Press.
[13]. Baur, D. G., Hong, K., & Lee, A. D. (2018). Bitcoin: Medium of exchange or speculative assets?. Journal of International Financial Markets, Institutions and Money, 54, 177- 189.
[14]. Baur, D. G., & McDermott, T. K. (2010). Is gold a safe haven? International evidence. Journal of Banking & Finance, 34(8), 1886- 1898.
[15]. Bouri, E., Shahzad, S. J. H., Roubaud, D., Kristoufek, L., & Lucey, B. (2020). Bitcoin, gold, and commodities as safe havens for stocks: New insight through wavelet analysis. The Quarterly Review of Economics and Finance, 77, 156- 164.
[16]. Klein, T., Thu, H. P., & Walther, T. (2018). Bitcoin is not the New Gold–A comparison of volatility, correlation, and portfolio performance. International Review of Financial Analysis, 59,105- 1 16.
[17]. Smales, L. A. (2019). Bitcoin as a safe haven: Is it even worth considering? Finance Research Letters, 30, 385-393.
[18]. Kindleberger, C.P., 1978. Manias, Panics and Crashes: A History of Financial Crises. Palgrave Macmillan.
[19]. Glosten, L. R., Jagannathan, R., & Runkle, D. E. ( 1993). On the relation between the expected value and the volatility of the nominal excess return on stocks. Journal of Finance, 48, 1779– 1801.
[20]. Taleb, N. N. (2005). Fooled by randomness: The hidden role of chance in life and in the markets (Vol. 1). Random House Trade Paperbacks.
[21]. Cont, R. (2007). Volatility clustering in financial markets: empirical facts and agent-based models. In Long memory in economics (pp. 289-309). Springer, Berlin, Heidelberg.