ArticleThe Quarterly review of economics and finance : journal of the Midwest Economics Association2023
The differential influence of social media sentiment on cryptocurrency returns and volatility during COVID-19.
Article in The Quarterly review of economics and finance : journal of the Midwest Economics Association, 2023. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 3 papers.
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
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Who cites it
3 citing papers in PubMed.
- Exploring the asymmetric effect of COVID-19 pandemic news on the cryptocurrency market: evidence from nonlinear autoregressive distributed lag approach and frequency domain causality.Financial innovation · 2023Article
- The COVID-19 pandemic and Bitcoin: Perspective from investor attention.Frontiers in public health · 2023Article
- Social media engagement and cryptocurrency performance.PloS one · 2023Article
Corrections and comments
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Authors and funding
4 authors.
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Abstract
This research investigates the effects of several measures of Twitter-based sentiment on cryptocurrencies during the COVID-19 pandemic. Innovative economic, as well as market uncertainty measures based on Tweets, along the lines of Baker et al. (2021), are employed in an attempt to measure how investor sentiment influences the returns and volatility of major cryptocurrencies, developing on non-linear Granger causality tests. Evidence suggests that Twitter-derived sentiment mainly influences Litecoin, Ethereum, Cardano and Ethereum Classic when considering mean estimates. Moreover, uncertainty measures non-linearly influence each cryptocurrency examined, at all quantiles except for Cardano at lower quantiles, and both Ripple and Stellar at both lower and higher quantiles. Cryptocurrencies with lower values are found to be unaffected by investor sentiment at extreme values, however, prove to be profitable due to more aligned investor behaviour.
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