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This study investigates the two famous digital forms of money, Bitcoin and Ethereum, during the pandemic. Its goal is to shed light on any differences in Bitcoin and Ethereum's responses to COVID-19 and the impact it has had on the cryptocurrency market. Data from May 2020 to April 2021, obtained from CoinMarketCap, was used and interpreted using descriptive statistics, correlation, and linear regression analysis. According to the findings, the COVID-19 had a significant impact on both cryptocurrencies, resulting in negative effects for both. Ethereum was slightly less affected than Bitcoin. The global COVID-19 case count was significantly correlated with both cryptocurrencies’ daily percentage price changes signifying that policymakers monitor the digital money market and establish guidelines to protect investors.

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Cryptocurrencies and COVID-19: Analysis and Comparison

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  • 发表日期：

    2025年

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  • Zeinab Mohammad Ali,
  • Asma Salman

摘要

This study investigates the two famous digital forms of money, Bitcoin and Ethereum, during the pandemic. Its goal is to shed light on any differences in Bitcoin and Ethereum's responses to COVID-19 and the impact it has had on the cryptocurrency market. Data from May 2020 to April 2021, obtained from CoinMarketCap, was used and interpreted using descriptive statistics, correlation, and linear regression analysis. According to the findings, the COVID-19 had a significant impact on both cryptocurrencies, resulting in negative effects for both. Ethereum was slightly less affected than Bitcoin. The global COVID-19 case count was significantly correlated with both cryptocurrencies’ daily percentage price changes signifying that policymakers monitor the digital money market and establish guidelines to protect investors.