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Author(s): Mohamed Aymen Ben Moussa, Akram Brahim , Amira El Feidi .

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

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 behavior, Cryptocurrencies, Covid-19, Russia-Ukraine War.

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