Cryptocurrency market efficiency in short- and long-term horizons during COVID-19: An asymmetric multifractal analysis approach

This study investigates asymmetric multifractality and market efficiency of the major cryptocurrencies during COVID-19 pandemic while accounting for different investment horizons. By applying multifractal detrended fluctuation analysis, we show that outbreak affected property price behaviors differently between short- long-term After outbreak, markets exhibited stronger in short-term but weaker long-term. We also analyze patterns upward downward trends small large fluctuations confirm has greatly changed level asymmetry cryptocurrency markets.