Are GARCH and DCC Values of 10 Cryptocurrencies Affected by COVID-19?

This paper examines the dynamic conditional correlations among 10 cryptocurrencies and possibility of hedging investment strategies multiple over period affected by COVID-19 from 2017 to 2022. After studying relationship between Bitcoin, Ethereum, other eight cryptocurrencies, four main results were obtained in this paper: first, pre-COVID-19 period, almost all cryptocurrencies’ return growth rates increased, had a positive effect on returns cryptocurrencies. Second, indices features volatility clustering memory persistence long run; COVID-19, these GARCH values decreased, but varying increased. Third, very strong; average Bitcoin others Fourth, Tether can be used as hedge cryptocurrency against enhanced its feature.