Using Time-Series and Sentiment Analysis to Detect the Determinants of Bitcoin Prices

  title={Using Time-Series and Sentiment Analysis to Detect the Determinants of Bitcoin Prices},
  author={Ifigeneia Georgoula and Demitrios Pournarakis and Christos Bilanakos and Dionisios N. Sotiropoulos and George M. Giaglis},
  journal={ERN: Management of Technological Innovation \& R\&D in Developing Economies (Topic)},
This paper uses time-series analysis to study the relationship between Bitcoin prices and fundamental economic variables, technological factors and measurements of collective mood derived from Twitter feeds. Sentiment analysis has been performed on a daily basis through the utilization of a state-of-the-art machine learning algorithm, namely Support Vector Machines (SVMs). A series of short-run regressions shows that the Twitter sentiment ratio is positively correlated with Bitcoin prices. The… 

Using sentiment analysis to predict interday Bitcoin price movements

Purpose The purpose of this study is to measure the interaction between media sentiment and the Bitcoin price. Because some researchers argued that the Bitcoin value is also determined by

Analysis of Bitcoin Prices Using Market and Sentiment Variables

This paper proposes an empirical model for analyzing the dynamics of Bitcoin prices. To do this, we consider a vector error correction model over two overlapping periods: 2010-2017 and 2010-2019.

Money Often Costs Too Much: A Study to Investigate The Effect Of Twitter Sentiment On Bitcoin Price Fluctuation

This research aims to uncover the relationship between Bitcoin prices and people’s sentiments about Bitcoin on social media by using ELMo embedding model and SVM classifier to divide the tweets into three sentiment categories - positive, negative, and neutral.

An Event Driven Sentiment Detection Method for Correlation Analysis of Bitcoin Market

An event-driven Bitcoin investment model is established and empirical research is conducted in a case study to analyze the impact of major global events on bitcoin price volatility.

The Effect of Tweets Made by Cryptocurrency Opinion Leaders on Bitcoin Prices

  •  . S. Hamza
  • Computer Science
    Saudi Journal of Economics and Finance
  • 2020
The results in indicate that tweets made by cryptocurrency influencers contain statistically significant information about the future value of bitcoin, indicating that analyzing those tweets to exploit profitable opportunities can be worthwhile.

Short-Term Bitcoin Price Fluctuation Prediction Using Social Media and Web Search Data

In recent years, the social network has been widely used among the public to share their views and for communication as well. Further, sentiments of the text used in emails, blogs, and social media

Forecasting Bitcoin Price Fluctuation by Twitter Sentiment Analysis

To what degree Bitcoin returns can be estimated using public opinion on Twitter, using a sentiment analyzer on Bitcoin-related tweets and financial data, the Twitter sentiment was found to have predictive power for Bitcoin's results.


The authors assess the impact of the emotional tonality of bitcoin news on its exchange rate. In particular, we studied the hypothesis of the impact of the readability index of the news text on the

Analysis of the relationships between Bitcoin and exchange rate, commodities and global indexes by asymmetric causality test

This study investigates the asymmetric causal relations between Bitcoin and gold, Brent oil, US dollar, S&P 500 and BIST 100 Indexes for the weekly data of the period between November 2013 and July

An Analysis of Bitcoin’s Price Dynamics

This paper aims to enhance the understanding of which factors affect the price development of Bitcoin in order for investors to make sound investment decisions. Previous literature has covered only a



Exploring the Determinants of Bitcoin Exchange Rate

Bitcoin, a digital currency created based on modern P2P and cryptograph technologies, has ignited much discussion among professionals. However, there is a lack of empirical understanding about the

Twitter mood predicts the stock market

Nowcasting the Bitcoin Market with Twitter Signals

The conclusion of this paper is that the microblogging platform Twitter is Bitcoin's virtual trading floor, emotionally reflecting its trading dynamics.

The economics of BitCoin price formation

ABSTRACT This is the first article that studies BitCoin price formation by considering both the traditional determinants of currency price, e.g., market forces of supply and demand, and digital

BitCoin meets Google Trends and Wikipedia: Quantifying the relationship between phenomena of the Internet era

It is shown that not only are the search queries and the prices connected but there also exists a pronounced asymmetry between the effect of an increased interest in the currency while being above or below its trend value.

Likelihood-Based Inference in Cointegrated Vector Autoregressive Models

This book gives a detailed mathematical and statistical analysis of the cointegrated vector autoregresive model. This model had gained popularity because it can at the same time capture the short-run

The Purchasing Power of Money; Its Determination and Relation to Credit, Interest and Crises . By Irving Fisher, assisted by Harry G. Brown. New York, The Macmillan Company. 1911. Pp. xxii + 505.

RareBooksClub. Paperback. Book Condition: New. This item is printed on demand. Paperback. 142 pages. Dimensions: 9.7in. x 7.4in. x 0.3in.This historic book may have numerous typos and missing text.

Widespread Worry and the Stock Market

It is demonstrated that estimating emotions from weblogs provides novel information about future stock market prices, and how the mood of millions in a large online community, even one that primarily discusses daily life, can anticipate changes in a seemingly unrelated system.

Applied Econometric Time Series

PREFACE. ABOUT THE AUTHOR. Chapter DIFFERENCE EQUATIONS . 1 Time-Series Models. 2 Difference Equations and Their Solutions. 3 Solution by Iteration. 4 An Alternative Solution Methodology. 5 The