사회적 감성이 가상화폐 가격에 미치는 영향분석 : 실물화폐와의 비교를 중심으로

Abstract

This paper analyzes the volatility of the ever-changing currency price and sentiment score from data in tweets and news on the Internet, and puts forward the logical basis for the relationship between them through quantitative figures. Assume that cryptocurrency is more affected by social sensibilities such as tweets and that commodity money is more affected by traditional mass media such as news. Text data such as tweet data and news related currency articles were collected to calculate sentiment scores. Correlation analysis was then performed to analyze the relationship between the price of each currency and the scores. As a result, bitcoin prices had patterns of variation similar to those of relatively social media, and gold prices had patterns of variation similar to those of relatively traditional mass media. Considering the focus of existing studies on cryptocurrency, this study can extend its scope to commodity money, thereby extending the scope of future research areas and contributing to its value.