Granger causality test results of logarithmic yield of bitcoin and the blockchain index
| Lagged Rank | Bitcoin is not the Granger reason of blockchain index | Blockchain index is not the Granger reason for Bitcoin | ||
|---|---|---|---|---|
| F-stat | p-value | F-stat | p-value | |
| First-order | 0.29064 | 0.5899 | 1.09042 | 0.2966 |
| Second-order | 0.31709 | 0.7283 | 0.53833 | 0.5838 |
| Third-order | 0.76134 | 0.5158 | 1.59780 | 0.1881 |
| Fourth-order | 0.54558 | 0.7023 | 1.53877 | 0.1885 |
| Fifth-order | 0.72259 | 0.6065 | 1.26486 | 0.2766 |
| Sixth-order | 0.68656 | 0.6606 | 1.09871 | 0.3609 |
| Seventh-order | 0.68477 | 0.6851 | 1.05751 | 0.3889 |
| Eighth-order | 0.83566 | 0.5711 | 0.93679 | 0.4848 |
| Lagged Rank | Bitcoin is not the Granger reason of blockchain index | Blockchain index is not the Granger reason for Bitcoin | ||
|---|---|---|---|---|
| First-order | 0.29064 | 0.5899 | 1.09042 | 0.2966 |
| Second-order | 0.31709 | 0.7283 | 0.53833 | 0.5838 |
| Third-order | 0.76134 | 0.5158 | 1.59780 | 0.1881 |
| Fourth-order | 0.54558 | 0.7023 | 1.53877 | 0.1885 |
| Fifth-order | 0.72259 | 0.6065 | 1.26486 | 0.2766 |
| Sixth-order | 0.68656 | 0.6606 | 1.09871 | 0.3609 |
| Seventh-order | 0.68477 | 0.6851 | 1.05751 | 0.3889 |
| Eighth-order | 0.83566 | 0.5711 | 0.93679 | 0.4848 |
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