Abstract
Nowadays, crypto-asset is gaining immense interest in the field of finance. Bitcoin is a one such crypto-asset with a trading volume of more than 5 billion a day. On social networking services, there are people who have a great influence on social media users; these people are called influencers. In this study, we focus on crypto-asset influencers. We consider that influencer tweets may affect crypto-asset prices. In this research, we propose a method to predict whether bitcoin price will increase or decrease using influencer tweets. For this, we collect influencer tweets to extract features using natural language processing techniques; these features are used as input for machine learning methods, which also use bitcoin price data. The results of our experiment show that the influencer tweets affect crypto-asset prices.
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Notes
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Crypto-asset is often called “Cryptocurrency.” However, since the Financial Services Agency of Japan discusses that cryptocurrency should be called “crypto-asset,” we call it crypto-asset in this paper. https://www.fsa.go.jp/news/30/singi/20181214.html.
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Yamamoto, H. et al. (2020). Forecasting Crypto-Asset Price Using Influencer Tweets. In: Barolli, L., Takizawa, M., Xhafa, F., Enokido, T. (eds) Advanced Information Networking and Applications. AINA 2019. Advances in Intelligent Systems and Computing, vol 926. Springer, Cham. https://doi.org/10.1007/978-3-030-15032-7_79
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