Is Professional Sentiment Better When It Comes to Cryptocurrencies?
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F19%3A00111374" target="_blank" >RIV/00216224:14560/19:00111374 - isvavai.cz</a>
Result on the web
<a href="http://www.vedeckekonference.cz/library/proceedings/mmk_2019.pdf" target="_blank" >http://www.vedeckekonference.cz/library/proceedings/mmk_2019.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Is Professional Sentiment Better When It Comes to Cryptocurrencies?
Original language description
In this paper, I examine how university students forecast future Bitcoin prices in the short-, and medium-term by employing a unique longitudinal survey which was conducted in six waves during the period from September to December 2018. Firstly, I calculate the short-term sentiment indicators out of individual survey answers and compare their dynamics with established survey sentiment indicator - sentix Bitcoin Sentiment, which employs responses of professional investors regarding the Bitcoin price expectations. Secondly, I analyze various factors that affect the panel of respondents’ absolute forecasted change in Bitcoin price as well as the absolute error that results from the forecast in each survey wave. I found that the past dynamics of Bitcoin price, the time spent by the respondent on answering the forecast question or the indication whether she is optimistic or pessimistic about the future interest of investors’ towards Bitcoin, significantly affects the degree to which investors provide erroneous forecasts and are sentimental towards Bitcoin.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Reviewed proceedings of the International Masaryk Conference for PhD. Students and Young Researchers 2019
ISBN
9788087952313
ISSN
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e-ISSN
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Number of pages
10
Pages from-to
432-441
Publisher name
MAGNANIMITAS
Place of publication
Hradec Králové
Event location
Hradec Králové, Česká republika
Event date
Jan 1, 2019
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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