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Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis

Bitcoin (BTC) prices are fluctuating continuously to the extremes. The Bitcoin market witnessed a crash during the second quarter of 2021 that was purely guided by the investors’ sentiments. Are the Bitcoin prices influenced only by market sentiments or do any factors influence them? In this paper,...

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Detalles Bibliográficos
Autores principales: Biju, A. V., Mathew, Aparna Merin, Nithi Krishna, P. P., Akhil, M. P.
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer International Publishing 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9199470/
https://www.ncbi.nlm.nih.gov/pubmed/35729917
http://dx.doi.org/10.1007/s42521-022-00052-y
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author Biju, A. V.
Mathew, Aparna Merin
Nithi Krishna, P. P.
Akhil, M. P.
author_facet Biju, A. V.
Mathew, Aparna Merin
Nithi Krishna, P. P.
Akhil, M. P.
author_sort Biju, A. V.
collection PubMed
description Bitcoin (BTC) prices are fluctuating continuously to the extremes. The Bitcoin market witnessed a crash during the second quarter of 2021 that was purely guided by the investors’ sentiments. Are the Bitcoin prices influenced only by market sentiments or do any factors influence them? In this paper, we applied a triangulation approach; mixed-methods research was used in which a qualitative study was complemented by a quantitative method. Both the qualitative and quantitative data of time periods 2016–2021 were examined to find whether the Bitcoin market prices are influenced by market sentiments. For analysing market sentiments, the posts and sentiments from 2016 to 2021 of an internet forum “Bitcointalk” were used. For strengthening the findings of qualitative analysis, we used quantitative data of the BTC market. We also used search data from Google Trends for providing further insights. Our research shows a crossmatch between quantitative trends on Bitcoin market prices and qualitative matrix of sentiments. We have also observed an artificial investment intention in the form of digital nudges playing the field of the Bitcoin market to boost investment.
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spelling pubmed-91994702022-06-17 Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis Biju, A. V. Mathew, Aparna Merin Nithi Krishna, P. P. Akhil, M. P. Digit Finance Original Article Bitcoin (BTC) prices are fluctuating continuously to the extremes. The Bitcoin market witnessed a crash during the second quarter of 2021 that was purely guided by the investors’ sentiments. Are the Bitcoin prices influenced only by market sentiments or do any factors influence them? In this paper, we applied a triangulation approach; mixed-methods research was used in which a qualitative study was complemented by a quantitative method. Both the qualitative and quantitative data of time periods 2016–2021 were examined to find whether the Bitcoin market prices are influenced by market sentiments. For analysing market sentiments, the posts and sentiments from 2016 to 2021 of an internet forum “Bitcointalk” were used. For strengthening the findings of qualitative analysis, we used quantitative data of the BTC market. We also used search data from Google Trends for providing further insights. Our research shows a crossmatch between quantitative trends on Bitcoin market prices and qualitative matrix of sentiments. We have also observed an artificial investment intention in the form of digital nudges playing the field of the Bitcoin market to boost investment. Springer International Publishing 2022-06-15 2022 /pmc/articles/PMC9199470/ /pubmed/35729917 http://dx.doi.org/10.1007/s42521-022-00052-y Text en © The Author(s), under exclusive licence to Springer Nature Switzerland AG 2022 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Original Article
Biju, A. V.
Mathew, Aparna Merin
Nithi Krishna, P. P.
Akhil, M. P.
Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis
title Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis
title_full Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis
title_fullStr Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis
title_full_unstemmed Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis
title_short Is the future of bitcoin safe? A triangulation approach in the reality of BTC market through a sentiments analysis
title_sort is the future of bitcoin safe? a triangulation approach in the reality of btc market through a sentiments analysis
topic Original Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9199470/
https://www.ncbi.nlm.nih.gov/pubmed/35729917
http://dx.doi.org/10.1007/s42521-022-00052-y
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