Terror Attacks and Cryptocurrency Trading Volume
15 Pages Posted: 5 Nov 2019
Date Written: September 2019
This paper investigates whether the change of crypto-trading volume can affect the occurrence of terror attacks. We find that an increase in the Bitcoin and Ethereum trading volume is related to the higher probability of the occurrence of terror attacks while other main cryptocurrencies have no such effects. Furthermore, the effect of Bitcoin volume on terror attacks only exists in the United Kingdom, rather than the United States, Germany, and France. Finally, the empirical results reveal that the more media attention on cryptocurrency would weaken the effect of crypto-trading volume on the occurrence of terror attacks.
Keywords: Terror Attacks, Cryptocurrency, Bitcoin, United Kingdom, Trading Volume
JEL Classification: C22, G15, D81
Suggested Citation: Suggested Citation