Interplay between cryptocurrency transactions and online financial forums
| Autor: | Rebeca P. Díaz Redondo, Ana Fernández Vilas, Daniel Couto Cancela, Alejandro Torrado Pazos |
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| Rok vydání: | 2021 |
| Předmět: |
Cryptocurrency
5307.16 Teoría Monetaria Transparency (market) 5304.06 Dinero y Operaciones Bancarias social media General Mathematics bitcoin Cryptography 02 engineering and technology 6302.02 Psicología Social 020204 information systems 0202 electrical engineering electronic engineering information engineering Computer Science (miscellaneous) Social media Relevance (information retrieval) Engineering (miscellaneous) Finance business.industry lcsh:Mathematics Bitcointalk cryptocurrencies lcsh:QA1-939 financial forums Digital currency Disinformation 020201 artificial intelligence & image processing business Anonymity |
| Zdroj: | Investigo. Repositorio Institucional de la Universidade de Vigo Universidade de Vigo (UVigo) Mathematics, Vol 9, Iss 411, p 411 (2021) Mathematics Volume 9 Issue 4 |
| Popis: | Cryptocurrencies are a type of digital money meant to provide security and anonymity while using cryptography techniques. Although cryptocurrencies represent a breakthrough and provide some important benefits, their usage poses some risks that are a result of the lack of supervising institutions and transparency. Because disinformation and volatility is discouraging for personal investors, cryptocurrencies emerged hand-in-hand with the proliferation of online users’ communities and forums as places to share information that can alleviate users’ mistrust. This research focuses on the study of the interplay between these cryptocurrency forums and fluctuations in cryptocurrency values. In particular, the most popular cryptocurrency Bitcoin (BTC) and a related active discussion community, Bitcointalk, are analyzed. This study shows that the activity of Bitcointalk forum keeps a direct relationship with the trend in the values of BTC, therefore analysis of this interaction would be a perfect base to support personal investments in a non-regulated market and, to confirm whether cryptocurrency forums show evidences to detect abnormal behaviors in BTC values as well as to predict or estimate these values. The experiment highlights that forum data can explain specific events in the financial field. It also underlines the relevance of quotes (regular mechanism to response a post) at periods: (1) when there is a high concentration of posts around certain topics (2) when peaks in the BTC price are observed and, (3) when the BTC price gradually shifts downwards and users intend to sell. |
| Databáze: | OpenAIRE |
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