Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)

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Vulnerability of Cryptocurrency Markets: A Study of the Relationship Between High-Impact Users and Bitcoin Market Price Volatility

Authors
Kunpeng Xu1, 3, Feng Liu2, 3, *, Jiayin Qi3, *
1School of Statistics and Information, Shanghai University of International Business and Economics, Shanghai, China
2School of Computer Science and Technology, East China Normal University, Shanghai, China
3Institute of Artificial Intelligence and Change Management, Shanghai University of International Business and Economics, Shanghai, China
*Corresponding author. Email: lsttoy@163.com
*Corresponding author. Email: qijiayin@139.com
Corresponding Authors
Feng Liu, Jiayin Qi
Available Online 20 December 2022.
DOI
10.2991/978-94-6463-030-5_69How to use a DOI?
Keywords
Blockchain; Cryptocurrency; Vulnerability of the Crypto Market; Bitcoin
Abstract

While the blockchain cryptocurrency market is becoming increasingly sought after, the vulnerability of the crypto market has also been brought to the attention of some academics. Based on cryptocurrency price data in TradingView database, this paper studies the effect of high-impact users’ comments on bitcoin price volatility in social media. The results show that when the Bitcoin market is in the listing channel, high-impact user speech does not bring significant abnormal returns. When Bitcoin market is in a downward channel, High-Impact community leaders’ empty talk produces significant negative returns.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)
Series
Atlantis Highlights in Intelligent Systems
Publication Date
20 December 2022
ISBN
10.2991/978-94-6463-030-5_69
ISSN
2589-4919
DOI
10.2991/978-94-6463-030-5_69How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Kunpeng Xu
AU  - Feng Liu
AU  - Jiayin Qi
PY  - 2022
DA  - 2022/12/20
TI  - Vulnerability of Cryptocurrency Markets: A Study of the Relationship Between High-Impact Users and Bitcoin Market Price Volatility
BT  - Proceedings of the 2022 International Conference on Bigdata Blockchain and Economy Management (ICBBEM 2022)
PB  - Atlantis Press
SP  - 688
EP  - 703
SN  - 2589-4919
UR  - https://doi.org/10.2991/978-94-6463-030-5_69
DO  - 10.2991/978-94-6463-030-5_69
ID  - Xu2022
ER  -