The Impact of Russia-Ukraine War on Cryptocurrency Market

Abstract

The major focus of this research study is to understand the impact of the Russia-Ukraine crises or war on three major Crypto currencies like Bitcoin, Binance coin and Ethereum. This study also provides insight about the reaction of the Crypto market during the ongoing war situation and how the Cryptocurrencies react during the war crises, either bitcoin, ethereum, and the binance coin have the positive impact or the negative impact during the war, or the war has no impact on Cryptocurrencies. The relationship between these cryptocurrencies are also examined during this research. The major findings show that the ARCH effect exist in the Binance coin, Bitcoin, and the Ethereum market series. The research study used the GARCH methodology for analysis of results. For Bitcoin and Binance coin there is no direct impact in it, and factor of volatility exist in it. For Ethereum there is no direct impact of war, and factor of volatility does not exist in it. The research gives valuable insights to investors and policy makers.