Table 4 Sources of external shock: PANICCA test
From: The transaction behavior of cryptocurrency and electricity consumption
Samples | Variable | Common factors | Idiosyncratic component | ||
|---|---|---|---|---|---|
ADF | Pap | Pbp | PMSBp | ||
Before 2017/12/17 | Price | − 16.985*** | 0.110 | 0.126 | 0.838 |
|  | Hashrate | − 23.010*** | − 3.020 | − 1.820 | − 1.510 |
Full sample | Price | 12.934 | − 5.173*** | − 3.28*** | − 2.076** |
|  | Hashrate | − 28.528*** | − 0.232 | − 0.224 | − 0.211 |
After 2017/12/17 | Price | 4.108 | 0.620 | 0.688 | 0.763 |
|  | Hashrate | − 23.154*** | − 5.861 | − 3.465 | − 2.005 |