Title: Deciphering sentiment dynamics in the cryptocurrency market: insights from X posts

Authors: Shobhit Navani; Giuseppe T. Cirella

Addresses: Faculty of Economics, University of Gdansk, 81-824, Sopot, Poland ' Faculty of Economics, University of Gdansk, 81-824, Sopot, Poland; University Center for Social and Urban Research, University of Pittsburgh, Pittsburgh, PA, 15260, USA

Abstract: Understanding public sentiment is vital in the dynamic realm of digital currencies. This study analyses sentiments surrounding cryptocurrencies by examining a large dataset of X posts using Python-based methodologies. The research explores correlations between public opinions and market dynamics, uncovering the emotions and attitudes influencing cryptocurrency trends. By identifying drivers of sentiment on social media platforms, the findings offer insights into how public discourse impacts market fluctuations. The study's outcomes are valuable for investors, analysts, and policymakers, supporting strategy development, informed investment decisions, and effective policy creation. This research advances the growing field of cryptocurrency studies, highlighting the critical role of sentiment analysis in understanding and navigating the complexities of digital currency markets.

Keywords: crypto hack; crypto money laundering; darknet; market trends; sentiment analysis; social media.

DOI: 10.1504/IJBC.2024.143981

International Journal of Blockchains and Cryptocurrencies, 2024 Vol.5 No.4, pp.241 - 273

Received: 09 Jul 2024
Accepted: 28 Sep 2024
Published online: 16 Jan 2025 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article