Effects of media on cryptocurrencies prices
Effects of media on cryptocurrencies prices
Author(s): Ana Todorovska, Hristijan Peshov, Eva Spirovska, Ivan Rusevski, Irena Vodenska, Lubomir Chitkushev, Dimitar TrajanovSubject(s): Social Sciences, Economy, Education, Media studies, Communication studies, Higher Education , Financial Markets, ICT Information and Communications Technologies
Published by: Нов български университет
Keywords: cryptocurrency; cryptocurrencies; NLP; Machine Learning; Time Series Forecasting; Explainable AI
Summary/Abstract: Cryptocurrencies present a novel medium of exchange that enables secure financial transactions without a central clearing authority. Billions of dollars are traded on the cryptocurrency market, contributing to the increased importance of cryptocurrencies within the global financial system. The cryptocurrency market is highly volatile and influenced by different social media and other media outlets. This study aims to investigate media influence, assessing the degree and nature of influence. We analyze historical cryptocurrency prices and utilize an NLP model to extract sentiments from the data obtained by social media and other media outlets. We use Time Series Forecasting and Explainable AI models to depict best the influence of media outlets over the cryptocurrency market. We compare the results for the different social media and other media outlets and present the findings that can be used in future research and cryptocurrency price forecasting.
Journal: Computer Science and Education in Computer Science
- Issue Year: 17/2021
- Issue No: 1
- Page Range: 41-45
- Page Count: 5
- Language: English