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Contribution Details

Type Journal Article
Scope Discipline-based scholarship
Title Do investor sentiments drive cryptocurrency prices?
Organization Unit
Authors
  • Erdinc Akyildirim
  • Ahmet Faruk Aysan
  • Oguzhan Cepni
  • S Pinar Ceyhan Darendeli
Item Subtype Original Work
Refereed Yes
Status Published in final form
Language
  • English
Journal Title Economics Letters
Publisher Elsevier
Geographical Reach international
ISSN 0165-1765
Volume 206
Page Range 109980
Date 2021
Abstract Text This paper studies the dynamic network connectedness between cryptocurrency returns and sentiments using the novel cryptocurrency-specific MarketPsych sentiment data for 13 cryptocurrencies with the highest market capitalization. The results indicate the dominance of cryptocurrencies with higher market capitalization and information transmission from cryptocurrency returns to sentiments. Our results also show that Bitcoin is losing its dominance to alt-coins in return spillovers while still dominant in sentiment spillovers.
Official URL https://www.sciencedirect.com/science/article/pii/S0165176521002573?via%3Dihub
Digital Object Identifier 10.1016/j.econlet.2021.109980
Other Identification Number merlin-id:21283
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