COVID-19, Oil Price, Bitcoin, and US Economic Policy Uncertainty: Evidence from ARDL Model

The pandemic of coronavirus (COVID-19) creates fear and uncertainty causing extraordinary disruption to financial markets global economy. Witnessing the fastest selloff in American stock market history with a plunge more than 28% S&P 500 has increased volatility exceed level observed during crisis 2008. On other hand, Bitcoin value shown considerable stability last couple months peaking at $10,367.53 mid February 2020. In this context, aim paper is investigate impact COVID-19 numbers on price taking into consideration number controlling variables including WTI-oil price, index, volatility, gold prices, economic policy US. To do so, ARDL estimation been applied using daily data from December 31, 2019 till May 20, Key findings reveal that reported cases new infections have marginal positive long term. However, indirect associated via stress cannot be neglected. can also serve as hedging tool against short run, while returns no growth infection significant returns.