Fig. 8

Source Authors’ own work. Notes: The incidence of the connection between daily changes of Bitcoin price and each RavenPack coronavirus-related indices is investigated at frequencies 2–3, 1–2, and 0–1. These frequencies show a short, medium, and long-term relationship. 0–1 is established as permanent causality, while 2–3 is recognized as temporary causality. The (red) upper line and the (brown) lower line represent statistically significant levels of 5% and 10%, respectively. The (blue) curves are used for statistical tests of various interval frequencies (0, π). Variables’ description is provided in Table 4