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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

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

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • OECD FORD branch

    50206 - Finance

Result continuities

  • Project

  • 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

  • e-ISSN

  • 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