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Financial Innovation
Fig. 4 | Financial Innovation

Fig. 4

From: Volatility contagion between cryptocurrencies, gold and stock markets pre-and-during COVID-19: evidence using DCC-GARCH and cascade-correlation network

Fig. 4

Study variables chart. Source: TradingView (See https://www.tradingview.com). BTC: Bitcoin, XAUUSD: Gold, JPN225: Nikkei 225, SPX: S&P 500, UK100GBP: FTSE 100, CHN50: China A50 and DEU: DAX. This Figure shows the beginning of the interaction between Bitcoin, gold, and the six stock market indices and the news on COVID-19 on February 24, 2020, where sharp collapses start with the lowest values between March and April 2020. Clearly, this Figure shows the collapse in Bitcoin and various stock indices compared to the rise in gold prices (the dark green line in the top right corner)

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