Fig. 6
From: Exploring Bitcoin dynamics against the backdrop of COVID-19: an investigation of major global events
Net Pairwise Contagion, nine asset classes. Note: This figure depicts the net pairwise spillover between Bitcoin and the other eight markets. The orange lines indicate the period before and during the COVID-19 pandemic. The y-axis represents net contagion. The gray shadow on the positive side means that the asset transmits risk to Bitcoin, and the negative percentage represents the asset receiving net contagion from Bitcoin