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| Type | Bachelor's Thesis |
| Scope | Discipline-based scholarship |
| Title | Hype as a Determinant of Price in Cryptocurrencies – A Qualitative Analysis |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Date | 2022 |
| Abstract Text | The aim of this paper is to discern if hype is a determinant of price spikes in cryptocurrency. Furthermore, we aim to determine if online sentiment drives the value of cryptocurrencies. Due to the youth of the cryptocurrency market, existing research regarding hype in cryptocurrency is still scarce. This thesis ads to the existing research by providing insight on the social components with respect to the abnormal movements of public interest, trade volume and community growth. To identify hype in the cryptocurrency market a literature review and a qualitative analysis are conducted. In the qualitative analysis, four determinants of hype are found. Through the abnormal movements of these, the research seeks to find the effect on the price by using the programming language R and analysing a set of n=9 cryptocurrencies. Furthermore, the underlying blockchain properties are assessed to identify if hype acts conjointly as a determinant of price. It is found that hype acts as a determinant of price and that the size of the community is irrelevant. |
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