Failure of Gold, Bitcoin and Ethereum as safe havens during the Ukraine-Russia war
Résumé
This paper studies the impact of fear, uncertainty and market volatility caused by the Ukraine-Russia war on crypto-assets returns (Bitcoin and Ethereum) and Gold returns. We use the searches on Wikipedia trends as proxies of uncertainty and fear and two volatility indices: S&P500 VIX and the Russian VIX (RVIX).
The results show that Bitcoin, Ethereum and Gold failed as safe havens during this war.
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