Bitcoin Sentiment Index, Bitcoin Performance and US Dollar Exchange Rate
Suresh Kumar Oad Rajput,
Ishfaque Ahmed Soomro and
Najma Ali Soomro
Journal of Behavioral Finance, 2022, vol. 23, issue 2, 150-165
Abstract:
This study introduces a comprehensive Google search volume based Bitcoin Sentiment Index (BSI) and investigates its symmetric and asymmetric association with Bitcoin's returns, volume, and volatility, and with United States Dollar (USD) exchange rates. Our results indicate a positive association of BSI with Bitcoin's returns and volume, but a negative relationship with its return volatility. Besides, Bitcoin's optimistic sentiments have an asymmetric relationship with the USD exchange rate in the short-run, and the Bitcoin price has an asymmetric and negative association with USD in the short-run and long-run. We also found a 35.47% speed of adjustment to long-run equilibrium.
Date: 2022
References: Add references at CitEc
Citations: View citations in EconPapers (3)
Downloads: (external link)
http://hdl.handle.net/10.1080/15427560.2020.1864735 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:taf:hbhfxx:v:23:y:2022:i:2:p:150-165
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/hbhf20
DOI: 10.1080/15427560.2020.1864735
Access Statistics for this article
Journal of Behavioral Finance is currently edited by Brian Bruce
More articles in Journal of Behavioral Finance from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().