The effect of Tweets on Cryptocurrencies around the pandemic period
dc.contributor.author | Paez Beltran, Mateo | |
dc.contributor.author | Paez Beltran, Mateo | |
dc.date.accessioned | 2024-05-17T12:38:38Z | |
dc.date.available | 2024-05-17T12:38:38Z | |
dc.identifier.uri | http://hdl.handle.net/10464/18393 | |
dc.description.abstract | The link between Twitter and cryptocurrencies has been documented in previous literature. However, not all Twitter accounts disseminate the same information to cryptocurrency market participants. This study investigates verified Twitter users and differences between accounts. We differentiate between individual and institutional Twitter accounts, as well as examine the impact of influential Twitter accounts on Bitcoin and Ethereum. We use a high-frequency dataset of Bitcoin and Ethereum quotes, with tweets related to each cryptocurrency. Our data set is from January 1, 2017, to September 30, 2022, and includes the NBER defined Covid-19 pandemic recession period. Thus, we examine whether the impact of tweets is stable over time and economic periods (recession vs expansion). Our results indicate distinctions in the effects between individual and institutional tweets, aligning with existing literature on incentives, audiences, and expertise. Additionally, the study explores the significance of the number of followers and tweets in both user categories, emphasizing that while the number of followers is important, it alone is insufficient, and the frequency of tweets also plays a vital role. Furthermore, the research highlights the impact of influential Twitter accounts, exemplified by figures like Elon Musk, on Bitcoin and Ethereum. This influence is attributed to factors such as a substantial following, perceived expertise, and active involvement in the cryptocurrency space. Tweets exhibit unstable effects over different economic periods. | en_US |
dc.language.iso | eng | en_US |
dc.publisher | Brock University | en_US |
dc.rights | CC0 1.0 Universal | * |
dc.rights.uri | http://creativecommons.org/publicdomain/zero/1.0/ | * |
dc.subject | Covid-19 | en_US |
dc.subject | Bitcoin | en_US |
dc.subject | Ethereum | en_US |
dc.subject | High-Frequency Data | en_US |
dc.subject | Returns | en_US |
dc.subject | Volatility | en_US |
dc.subject | en_US | |
dc.title | The effect of Tweets on Cryptocurrencies around the pandemic period | en_US |
dc.type | Electronic Thesis or Dissertation | en_US |
dc.degree.name | M.Sc. Management | en_US |
dc.degree.level | Masters | en_US |
dc.contributor.department | Faculty of Business Programs | en_US |
dc.degree.discipline | Faculty of Business | en_US |
refterms.dateFOA | 2024-05-17T12:38:39Z |