Table 1.
Summary statistics and preliminary results.
| Gtrend | Bitcoin | Ethereum | Litecoin | Ripple | |
|---|---|---|---|---|---|
| Summary Statistics | |||||
| Mean | 59.59 | 1.30E-05 | 1.04E-04 | −4.70E-06 | −2.08E-05 |
| Std. Dev. | 15.53 | 8.89E-03 | 1.10E-02 | 1.19E-02 | 1.11E-02 |
| Skewness | 0.47 | −2.56 | −2.30 | −2.18 | −4.66 |
| Kurtosis | 2.43 | 114.72 | 72.63 | 58.52 | 110.95 |
| N | 282 | 6769 | 6769 | 5088 | 4679 |
| Frequency | Daily | Hourly | Hourly | Hourly | Hourly |
| Start | Sep-2-2019 | Sep-2-2019 0:00:00 | Sep-2-2019 0:00:00 | Dec-9-2019 3:00:00 | Sep-2-2019 1:00:00 |
| End | Sep-29-2020 | Sep-29-2020 23:00:00 | Sep-29-2020 23:00:00 | Sep-29-2020 23:00:00 | Sep-29-2020 23:00:00 |
| Preliminary Analysis | |||||
| ARCH(6) | 2.38⁎⁎ | 116.03⁎⁎⁎ | 71.34⁎⁎⁎ | 47.07⁎⁎⁎ | 4.40⁎⁎⁎ |
| ARCH(24) | 1.27 | 59.63⁎⁎⁎ | 36.87⁎⁎⁎ | 24.94⁎⁎⁎ | 5.12⁎⁎⁎ |
| ARCH(12) | 1.20 | 67.69⁎⁎⁎ | 51.63⁎⁎⁎ | 30.83⁎⁎⁎ | 3.39⁎⁎⁎ |
| Q(6) | 27.38⁎⁎⁎ | 33.54⁎⁎⁎ | 16.56⁎⁎ | 18.64⁎⁎⁎ | 17.37⁎⁎⁎ |
| Q(12) | 41.16⁎⁎⁎ | 50.85⁎⁎⁎ | 33.73⁎⁎⁎ | 48.51⁎⁎⁎ | 41.94⁎⁎⁎ |
| Q(24) | 69.41⁎⁎⁎ | 213.18⁎⁎⁎ | 128.48⁎⁎⁎ | 101.88⁎⁎⁎ | 92.40⁎⁎⁎ |
| Q2(6) | 14.93⁎⁎⁎ | 815.47⁎⁎⁎ | 608.74⁎⁎⁎ | 404.63⁎⁎⁎ | 30.11⁎⁎⁎ |
| Q2(12) | 17.74⁎⁎⁎ | 875.28⁎⁎⁎ | 668.29⁎⁎⁎ | 469.26⁎⁎⁎ | 71.41⁎⁎⁎ |
| Q2(24) | 32.21⁎⁎⁎ | 2281.10⁎⁎⁎ | 1878.10⁎⁎⁎ | 1270.90⁎⁎⁎ | 112.32⁎⁎⁎ |
Note: ***, ** and * indicate statistical significance at 1%, 5% and 10%, respectively.