A Penn State study shows that crypto volatility may be less of a factor in returns than social media sentiment.
whether attitudes and emotionality surrounding cryptocurrency could help predict returns. What they found may stand in stark contrast to related financial markets.
The researchers used natural language processing to analyze millions of financial news articles and social media comments and generated sentiment scores along 53 topics and attention metrics for over 300 cryptocurrencies. Perhaps most interesting among their findings is their conclusion that while social media sentiment is a good predictor of crypto returns, the risk premium channel is not.
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