Cryptocurrencies’ Price Crash Risk and Crisis Sentiment

Dimitrios Anastasiou, Antonis Ballis, Konstantinos Drakos

Research output: Contribution to journalArticlepeer-review


We examine the effect of crisis sentiment on cryptocurrencies’ price crash risk. We show that cryptocurrencies’ price crash risk is positively related to the FEARS index, indicating that a higher crisis sentiment by investors increases cryptocurrencies’ price crash risk. Our findings advance the understanding of the consequences of investor sentiment on the cryptocurrency market.
Original languageEnglish
Article number101928
Number of pages5
JournalFinance Research Letters
Early online date9 Jan 2021
Publication statusPublished - Oct 2021


  • Cryptocurrencies
  • Price Crash Risk
  • Investors’ Crisis Sentiment
  • Google Trends
  • FEARS Index


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