Crypto Shifts: How COVID-19 Changed Top Players in the Market

The COVID-19 pandemic has shaken up the crypto world, changing how major cryptocurrencies interact with each other. This look into the data shows that bitcoin, once the king, lost its throne to Litecoin during the health crisis. The study checked how uncertainty in crypto policies and prices affected bonds between these currencies, using a special mathematical method called Quantile-VAR. It found that in extreme market times, like during the pandemic, the connections got stronger.

But it wasn't just bitcoin that changed. The study says that different cryptos reacted differently to the pandemic. So, what's the big takeaway? Uncertain times, like a pandemic, can drastically change how cryptos talk to each other. It's like a party where everyone is dancing, but the music keeps changing, and you don't know who will lead the dance floor next.

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