Terror Attacks and Cryptocurrency Trading Volume

15 Pages Posted: 5 Nov 2019

See all articles by Hui-Pei Cheng

Hui-Pei Cheng

Soochow University, Taiwan

Shih-Yung Chiu

Soochow University - Department of Economics

Kuang-Chieh Yen

Soochow University, Taiwan

Date Written: September 2019

Abstract

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

Cheng, Hui-Pei and Chiu, Shih-Yung and Yen, Kuang-Chieh, Terror Attacks and Cryptocurrency Trading Volume (September 2019). Available at SSRN: https://ssrn.com/abstract=3474785

Hui-Pei Cheng

Soochow University, Taiwan ( email )

No.56, Section 1, Kueiyang Street
Taipei, Taipei 100
Taiwan

Shih-Yung Chiu

Soochow University - Department of Economics ( email )

Taipei
Taiwan

Kuang-Chieh Yen (Contact Author)

Soochow University, Taiwan ( email )

56. kuei-yang St., Sec. 1
Taipei, Taiwan 10048
Taiwan

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