Abstract
This thesis empirically investigates the relationship between Twitter News and cryptocurrency market activity. The analysis is done on an intraday basis within a 200-day time period during the historic boom and decay of the cryptocurrency market from November 2017 until May 2018. The Twitter data used in the analysis consists of Twitter volume and Twitter sentiment for the four dominating cryptocurrencies: Bitcoin, Litecoin, Ethereum and Ripple. The results show that the information content of Twitter data is huge, and that intraday Twitter News precedes as well as proceeds selected cryptocurrency market activities. Moreover, analyzing the 20 largest cryptocurrencies, this work presents evidence that the cryptocurrency market exhibits signs of herding behavior.
| Educations | MSc in Applied Economics and Finance, (Graduate Programme) Final Thesis |
|---|---|
| Language | English |
| Publication date | 2019 |
| Number of pages | 86 |
| Supervisors | David Lando |