Herding Behavior in the Market for Clean and Dirty Cryptocurrencies.

Mohamed Aymen Ben Moussa; Akram Brahim; Amira El Feidi

doi:10.52589/AJAFR-9HC5APXW

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Herding Behavior in the Market for Clean and Dirty Cryptocurrencies.

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Publication Date: 2025-04-07

DOI: 10.52589/AJAFR-9HC5APXW

Volume/Issue: Volume 8, Issue 1 (2025)

Page No: 218 - 224

Journal: African Journal of Accounting and Financial Research

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Abstract:

In this article, we study the herding behavior of two types of cryptocurrencies, called dirty and clean, based on their energy consumption levels. Empirical results reveal that herding behavior generally only exists in the dirty cryptocurrency market and is more pronounced during bear market periods, high trading volume days, and high trading days. volatility. Moreover, we observe herding behavior in the cryptocurrency market only during the period of the Covid-19 pandemic.

Keywords:Herd behaviorCryptocurrenciesCovid-19Russia-Ukraine War.

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All articles are published open access under the Creative Commons Attribution 4.0 International (CC BY 4.0) licence, which permits use, sharing, adaptation, distribution, and reproduction in any medium or format, including for commercial purposes, provided appropriate credit is given to the original author(s) and source.

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Copyrights

Authors retain copyright in their articles and have unrestricted rights to reuse, republish, archive, share, and distribute their work after publication.
All articles are published open access under the Creative Commons Attribution 4.0 International (CC BY 4.0) licence, which permits use, sharing, adaptation, distribution, and reproduction in any medium or format, including for commercial purposes, provided appropriate credit is given to the original author(s) and source.