An analysis of the influence of famous people’s posts on social networks on the cryptocurrency exchange rate

• Autorzy: Telenyk Sergii , Nowakowski Grzegorz , Gavrilenko Olena , Miahkyi Mykhailo , Khalus Olena

Identyfikatory

DOI

10.24425/bpasts.2024.150117

• Języki publikacji: EN

Abstrakty

EN

In this work, the level of influence of the posts published by famous people on social networks on the formation of the cryptocurrency exchange rate is investigated. Celebrities who are familiar with the financial industry, especially with the cryptocurrency market, or are somehow connected to a certain cryptocurrency, such as Elon Musk with Dogecoin, are chosen as experts whose influence through social media posts on cryptocurrency rates is examined. This research is conducted based on statistical analysis. Real cryptocurrency exchange rate forecasts for the selected time period and predicted ones for the same period, obtained using three algorithms, are utilized as a dataset. This paper uses methods such as statistical hypotheses regarding the significance of Spearman’s rank correlation coefficient and Pearson’s correlation. It is confirmed that the posts by famous people on social networks significantly affect the exchange rates of cryptocurrencies.

Słowa kluczowe

EN

cryptocurrency exchange rate; forecasting algorithms; posts on social networks; methods of statistical analysis; information technology of intellectual analysis

PL

kurs kryptowaluty; informatyka analizy intelektualnej; algorytm prognozowania; post w mediach społecznościowych; metoda analizy statystycznej

• Wydawca: Polska Akademia Nauk, Wydział IV Nauk Technicznych
• Czasopismo: Bulletin of the Polish Academy of Sciences. Technical Sciences
• Rocznik: 2024
• Tom: Vol. 72, nr 4
• Strony: art. no. e150117
• Opis fizyczny: Bibliogr. 27 poz., tab.

Twórcy

autor

Telenyk Sergii

• Faculty of Electrical and Computer Engineering, Cracow University of Technology, Warszawska 24, 31-155 Cracow, Poland

• https://orcid.org/0000-0001-9202-9406

autor

Nowakowski Grzegorz

• Faculty of Electrical and Computer Engineering, Cracow University of Technology, Warszawska 24, 31-155 Cracow, Poland

• https://orcid.org/0000-0002-3086-0947

autor

Gavrilenko Olena

• National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute,” Prosp. Peremohy 37, Kyiv, Ukraine

• https://orcid.org/0000-0003-0413-6274

autor

Miahkyi Mykhailo

• National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute,” Prosp. Peremohy 37, Kyiv, Ukraine

• https://orcid.org/0000-0002-8038-8839

autor

Khalus Olena

• National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute,” Prosp. Peremohy 37, Kyiv, Ukraine

• https://orcid.org/0000-0002-5485-7881

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