Investor sentiment and Bitcoin relationship: A quantile-based analysis

Exploring the asymmetric effect of COVID-19 pandemic news on the cryptocurrency market: evidence from nonlinear autoregressive distributed lag approach and frequency domain causality

“…The BDS test rejects the null hypothesis of linearity consistent with Mokni et al ( 2022 ), Raza et al ( 2022a , b ), namely independent and identically distributed residuals across various embedding dimensions. Therefore, all incorporated variables are nonlinear, proving the chaotic behavior in the time series data.…”

“…We examine the order of integration between the variables through the ADF test proposed by Dickey and Fuller ( 1979 ) and the PP test suggested by Phillips and Perron ( 1988 ), following the extant literature (Polat et al 2022 ; Mokni et al 2022 ; Burggraf et al 2021 ; Ghosh 2020 ; Sahoo 2021 ; Sahoo and Rath 2022 ). Furthermore, because the ADF and PP tests are supposed to be biased toward I(1) inferences, we employ the KPSS test of Kwiatkowski et al ( 1992 ), in line with Kakinaka and Umeno ( 2021b ), Sahoo ( 2021 ), and Karaömer ( 2022 ).…”

Effect of twitter investor engagement on cryptocurrencies during the COVID-19 pandemic

“…Having clarified this fact, our results perfectly reflect the different behavior of Dogecoin and Ethereum. For Ethereum, our findings correspond to Shen et al (2019) and Mokni et al (2022) , suggesting a weak effect of investor attention on cryptocurrency returns. However, simultaneously, these results contradict Abraham et al (2018) , signaling a change in the investor behavior during the COVID-19 pandemic.…”

“…These contrasting results can be attributed to their different applications in the cryptocurrency market. The lack of investor engagement influence is likely because Ethereum, similar to Bitcoin, has a stable history and remarkable value as a safe-haven during economic crises ( Mokni et al, 2022 ), whereas Dogecoin is a new cryptocurrency. While Ethereum is a well-known cryptocurrency with a stable capitalization, Dogecoin is highly volatile with a sharp increase in price between December 2020 and May 2021.…”

The Analysis of Factors Affecting Bitcoin Price

“…Ullah et al examined fluctuations between celebrities and governments and the price of bitcoin, finding that positive celebrity and government sentiment is positively correlated with positive changes in the price of bitcoin [8]. Mokni et al did research that only bitcoin returns/volatility have a significant impact on investor sentiment, regardless of whether investors are fearful or greedy [9]. Li et al found that there is a strong relationship between the type of bitcoin and the direction of bitcoin price changes, which means that domestic events only have a positive impact on volatility, while foreign events have an impact on both expectations and volatility [10].…”