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10.1016/j.frl.2020.101607

http://scihub22266oqcxt.onion/10.1016/j.frl.2020.101607
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32550843!7246008!32550843
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suck abstract from ncbi


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pmid32550843      Financ+Res+Lett 2020 ; 35 (ä): 101607
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  • Safe haven or risky hazard? Bitcoin during the Covid-19 bear market #MMPMID32550843
  • Conlon T; McGee R
  • Financ Res Lett 2020[Jul]; 35 (ä): 101607 PMID32550843show ga
  • The Covid-19 bear market presents the first acute market losses since active trading of Bitcoin began. This market downturn provides a timely test of the frequently expounded safe haven properties of Bitcoin. In this paper, we show that Bitcoin does not act as a safe haven, instead decreasing in price in lockstep with the S&P 500 as the crisis develops. When held alongside the S&P 500, even a small allocation to Bitcoin substantially increases portfolio downside risk. Our empirical findings cast doubt on the ability of Bitcoin to provide shelter from turbulence in traditional markets.
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