A Sentiment Analysis on Bitcoin

Authors

  • Assyifa Nur Aziza Independent Researcher

DOI:

https://doi.org/10.58968/ift.v1i1.358

Keywords:

Bitcoin, Sentiment, Cryptocurrency

Abstract

The purpose of this study is to analyze the sentiment generated from researchers' opinions through published articles related to bitcoin. Bitcoin is related to financial operations, online monetary transactions, electronic transactions, financial control, electronic payments and electronic money. Others, bitcoin is an electronic payment tool with a peer-to-peer concept that allows users to transact with each other without the intermediary of financial institutions. The data analyzed consisted of 99 research articles indexed by Scopus in 2022. The method used is a qualitative approach with descriptive statistics from the study of bitcoin-themed literature. The results showed that neutral sentiment was the highest result with a percentage of 48% followed by negative sentiment of 23%, positive sentiment 22%, high positive sentiment 4%, and high negative sentiment 3%. The diversity of sentiment results is obtained because of the pros and cons of bitcoin's existence

References

Ausop, A. Z., & Aulia, E. S. (2018). Bitcoin Cryptocurrency Technology for Investment and Business Transactions According to Islamic Sharia. Journal of Sociotechnology Vol. 17, No. 1, 74-92.

Baur, D. G., Hong, K., & Lee, A. D. (2017). Bitcoin: Medium of exchange or speculative assets? Journal of International Financial Markets, Institutions & Money, 177-189.

Böhme, R., Christin, N., Edelman, B., & Moore, T. (2015). Bitcoin: Economics, Technology, and Governance. Journal of Economic Perspectives Volume 29, Number 2, 213-238.

Bojanova, I. (2014). Bitcoin: A Virtual Entity. June.

Bouri, E., Molnár, P., Azzi, G., Roubaud, D., & Hagfors, L. I. (2017). On the hedge and safe haven properties of Bitcoin: Is it really more than a diversifier? Finance Research Letters, 20, 192-198. https://doi.org/10.1016/j.frl.2016.09.025

Dyhrberg, A. H. (2016). Bitcoin, gold and the dollar - A GARCH volatility analysis. Finance Research Letters, 16, 85-92. https://doi.org/10.1016/j.frl.2015.10.008

Fitriani, H. (2018). Implications of Bitcoin Cryptocurrency on the Consistency of Financial Regulations in an Islamic Perspective. ACTIVA: Journal of Islamic Economics Volume 1 Number 1, 94-109.

Fosso Wamba, S., Kala Kamdjoug, J. R., Epie Bawack, R., & Keogh, J. G. (2020). Bitcoin, Blockchain and Fintech: a systematic review and case studies in the supply chain. Production Planning and Control, 31(2-3), 115-142. https://doi.org/10.1080/09537287.2019.1631460

Hurlburt, G. F., & Bojanova, I. (2014). Bitcoin: Benefit or Curse? IT Trends, 10-15.

Huwaida, R. W., & Hidajat, T. (2020). Bitcoin: A New Asset Class? Economics and Management Media, Volume 35 Issue 2, 178-187.

Jain, N. (2019). A New World of Virtual Currency: Cryptocurrency. Proceedings of 10th International Conference on Digital Strategies for Organizational Success.

Kamaliah, A. (2021, September 6). Retrieved from detikInet: https://inet.detik.com/business/d-5712207/pro-kontra-investasi-kripto-pertimbangkan-4-hal-ini

Karalevicius, V. (2018). Using sentiment analysis to predict interday Bitcoin price movements. Journal of Risk Finance, 19(1), 56-75. https://doi.org/10.1108/JRF-06-2017-0092

Kher, R., Terjesen, S., & Liu, C. (2020). Blockchain, Bitcoin, and ICOs: a review and research agenda. Small Business Economics. https://doi.org/10.1007/s11187-019-00286-y

Pratomo, H. B. (2017, December 11). Retrieved from merdeka.com: https://www.merdeka.com/uang/4-pro-dan-kontra-kehadiran-bitcoin-di-indonesia.html

Segendorf, B. (2014). What is Bitcoin? sveriges riksbank economic review, 2-71.

Urquhart, A. (2016). The inefficiency of Bitcoin. Economics Letters, 148, 80-82. https://doi.org/10.1016/j.econlet.2016.09.019.

Downloads

Published

2024-01-09

How to Cite

Aziza, A. N. (2024). A Sentiment Analysis on Bitcoin. Islamic Finance and Technology, 1(1). https://doi.org/10.58968/ift.v1i1.358