Publication
Herding behavior in the cryptocurrency market : the impact of covid-19
| datacite.subject.fos | Ciências Sociais::Economia e Gestão | pt_PT |
| dc.contributor.advisor | Ferreira, Mário Pedro Leite de Almeida | |
| dc.contributor.author | Cavalcante, Larissa Salazar Alencar | |
| dc.date.accessioned | 2024-12-19T15:39:46Z | |
| dc.date.available | 2024-12-19T15:39:46Z | |
| dc.date.issued | 2024-07-17 | |
| dc.date.submitted | 2024 | |
| dc.description.abstract | This thesis delves into the phenomenon of herding behavior within the cryptocurrency market from 2017 to 2022, with a particular emphasis on the COVID-19 pandemic's influence. Utilizing a quantitative approach and analyzing data from eight leading cryptocurrencies and the CCi30 index, the study sought to determine if the pandemic led to an increase in herding behavior among investors. Contrary to expectations, the research concluded that herding behavior was not prevalent in the period before the pandemic nor during the pandemic itself. This conclusion challenges existing assumptions about investor behavior in times of crisis, suggesting that cryptocurrency market's investors may rely more on individual analysis and strategies than on collective market movements. Therefore, the findings of this research stand in contrast to the prevailing conclusions drawn from previous studies, highlighting the nuanced nature of investor sentiment and decision-making within the cryptocurrency market. This insight adds a significant dimension to the understanding of market psychology, especially under extraordinary circumstances, providing valuable information for policymakers, investors, and the broader finance community. | pt_PT |
| dc.description.abstract | Esta tese investiga o “herding behavior” no mercado de criptomoedas durante 2017-2022, com foco no impacto da pandemia COVID-19. Utilizando um modelo quantitativo, dados das oito principais criptomoedas e o índice CCi30, o estudo procurou determinar se a pandemia intensificou o herding behavior entre os investidores. Contrariamente ao esperado, a pesquisa concluiu que não houve herding no período pré-pandemia nem durante a pandemia. Esta conclusão desafia alguma literatura sobre o comportamento dos investidores em tempos de crise, sugerindo que os investidores do mercado de criptomoedas aparentam confiar mais em análises e estratégias individuais do que em movimentos coletivos do mercado. Assim, os resultados desta pesquisa contrastam com as conclusões predominantes de estudos anteriores sobre herding. Esta percepção adiciona uma dimensão significativa ao entendimento da psicologia do mercado, especialmente em contextos de circunstâncias extraordinárias, fornecendo informações importantes para a implantação de políticas,, para os investidores e para a comunidade financeira mais ampla. | pt_PT |
| dc.identifier.tid | 203746988 | pt_PT |
| dc.identifier.uri | http://hdl.handle.net/10400.14/47621 | |
| dc.language.iso | eng | pt_PT |
| dc.subject | Cryptocurrency | pt_PT |
| dc.subject | Herding behavior | pt_PT |
| dc.subject | Covid-19 | pt_PT |
| dc.subject | Behavioral finance | pt_PT |
| dc.subject | Investor psychology | pt_PT |
| dc.subject | Criptomoedas | pt_PT |
| dc.subject | Finanças comportamentais | pt_PT |
| dc.subject | Psicologia do investidor | pt_PT |
| dc.title | Herding behavior in the cryptocurrency market : the impact of covid-19 | pt_PT |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | masterThesis | pt_PT |
| thesis.degree.name | Mestrado em Finanças | pt_PT |