Horizon of cryptocurrency before vs during COVID-19

  • Received October 10, 2022;
    Accepted December 12, 2022;
    Published December 16, 2022
  • Author(s)
  • DOI
    http://dx.doi.org/10.21511/imfi.20(1).2023.02
  • Article Info
    Volume 20 2023, Issue #1, pp. 14-25
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This work is licensed under a Creative Commons Attribution 4.0 International License

Investment cannot be separated from the level of return and risk inherent in assets. Today, investment instruments are not only stocks, currencies, bonds, deposits, savings and others. The beginning of Bitcoin’s emergence as a pioneer of Cryptocurrency was in 2009. Crypto assets are emerging rapidly and are accompanied by an increase in the number of transactions each period. The growth in the market capitalization value of crypto assets has also grown significantly. During COVID-19, many investments, such as stocks, experienced a decline due to market uncertainty. The results of this study prove that with the existence of COVID-19, the crypto market is not affected. Crypto is an attraction characterized by a high degree of fluctuation, and there is no limit to transactions in the open market 24 hours to trade. The Cryptocurrency market is currently a market that can provide short-term benefits to risk-taking investors, while the market in other investment instruments is declining. 78% of the value capitalization of the top 200 cryptocurrencies is represented by the top 9 cryptos used as samples in this study. So that if there is a decrease in these 9 cryptos, it will also have an impact on the overall capitalization value of crypto in the market. The future development of Cryptocurrencies will no longer be digital assets traded with many speculators who can control prices, it can even be digital money that can be used worldwide without any transaction fees and is controlled on a blockchain system.

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    • Figure 1. Volume transaction
    • Figure 2. Variance, return and Sharpe
    • Figure 3. Crypto capitalization value
    • Table 1. Descriptive sample
    • Table 2. Kruskal-Wallis, all Crypto
    • Table 3. Kruskal-Wallis, each one Crypto
    • Table 4. Comparison of crypto capitalization
    • Conceptualization
      Ikaputera Waspada, Dwi Fitrizal Salim
    • Data curation
      Ikaputera Waspada, Astrie Krisnawati
    • Funding acquisition
      Ikaputera Waspada, Astrie Krisnawati
    • Investigation
      Ikaputera Waspada, Dwi Fitrizal Salim, Astrie Krisnawati
    • Methodology
      Ikaputera Waspada, Astrie Krisnawati
    • Project administration
      Ikaputera Waspada
    • Software
      Ikaputera Waspada, Dwi Fitrizal Salim
    • Supervision
      Ikaputera Waspada, Astrie Krisnawati
    • Visualization
      Ikaputera Waspada
    • Writing – original draft
      Ikaputera Waspada
    • Formal Analysis
      Dwi Fitrizal Salim
    • Resources
      Dwi Fitrizal Salim
    • Validation
      Dwi Fitrizal Salim, Astrie Krisnawati
    • Writing – review & editing
      Dwi Fitrizal Salim, Astrie Krisnawati