How Global Events Impact Cryptocurrency Performance: Key Insights from 2017 to 2023
Understanding how global events influence cryptocurrency markets is vital for both investors and enthusiasts. A comprehensive study published in the Journal of International Money and Finance (August 2025) analyzed data from 2017 to 2023, covering over 10,000 cryptocurrencies and 47 significant world events.
The research employed a big data event study approach, examining cumulative abnormal returns within time frames ranging from 3 to 150 days before and after each event. The key findings include:
- Cryptocurrencies tend to show positive returns during economic crises, suggesting that they may act as safe havens when traditional markets are unstable.
- Political crises often lead to significant losses for established cryptocurrencies, reflecting market sensitivity to geopolitical tensions.
- Environmental crises initially boost the value of established coins, but this positive effect diminishes over time, leading to negative impacts afterward.
These insights deepen our understanding of how cryptocurrencies behave under various global pressures, helping investors make informed decisions.
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For more detailed information, refer to the full study here: https://doi.org/10.1016/j.jimonfin.2025.103375