Sentiment analysis of Bitcoin exchange rate using Twitter
Veliev, Nikita; Iureva, Eva (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-202301031028
https://urn.fi/URN:NBN:fi:amk-202301031028
Tiivistelmä
The thesis explores the possibility of applying sentiment analysis to Bitcoin exchange rate based on Twitter posts. Bitcoin is a volatile cryptocurrency. Consequently, bitcoin can slightly depend on the posts of authoritative personalities speaking out on Twitter. The thesis explains how users share thoughts and opinions about Bitcoin on Twitter. The thesis seeks to answer the main question of whether it is currently profitable to use sentiment analysis as a tool for professional crypto traders and companies to possibly predict and analyse the bitcoin exchange rate.
The thesis uses a deductive approach based on the theory derived earlier. The theory explains the relationship between the mood of users on Twitter and the price of bitcoin. The thesis uses two research methods quantitative and qualitative. The collected tweets are first displayed in text format. The results of tweets received during the created Python program are numerical.
In accordance with the applied approach and methods, the main result of the thesis is the confirmed relevance of using sentiment analysis for the possible prediction and analysis of the Bitcoin exchange rate.
The thesis uses a deductive approach based on the theory derived earlier. The theory explains the relationship between the mood of users on Twitter and the price of bitcoin. The thesis uses two research methods quantitative and qualitative. The collected tweets are first displayed in text format. The results of tweets received during the created Python program are numerical.
In accordance with the applied approach and methods, the main result of the thesis is the confirmed relevance of using sentiment analysis for the possible prediction and analysis of the Bitcoin exchange rate.