Is Professional Sentiment Better When It Comes to Cryptocurrencies?

Kód výsledku v 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>

Výsledek na webu

<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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Jazyk výsledku

angličtina

Název v původním jazyce

Is Professional Sentiment Better When It Comes to Cryptocurrencies?

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Is Professional Sentiment Better When It Comes to Cryptocurrencies?

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

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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Počet stran výsledku

10

Strana od-do

432-441

Název nakladatele

MAGNANIMITAS

Místo vydání

Hradec Králové

Místo konání akce

Hradec Králové, Česká republika

Datum konání akce

1. 1. 2019

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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