This paper explores the relationship between social media eWoM and bitcoin price movements. With the increasing popularity of social media, there is a growing interest in the role of electronic word-of-mouth (eWoM) in shaping the bitcoin market. Despite numerous studies examining social media sentiment and the stock market, few have extended these findings to the bitcoin market. In addition, while Information Systems literature suggests the distinct effects of user groups, few insights have been applied to examine social media user sentiment and bitcoin returns. To address these gaps, we propose a conceptual model that incorporates tweet and user characteristics to examine their impact on bitcoin prices. Our study provides an approach to address the challenges of examining user sentiment and bitcoin fluctuations at the hourly level. We aim to enrich the richness of eWoM on the cryptocurrency market to provide a better understanding of the topic under investigation.


Paper Number 1571; Track AI; Short Paper



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