Carl H. Lindner College of BusinessCarl H. Lindner College of BusinessUniversity of Cincinnati

Carl H. Lindner College of Business

Lindner Researchers Attribute the Rise in Bitcoin Popularity to Social Media Chatter

Published:
Wednesday, June 6, 2018 11:24 AM
Voice of the silent majority behind Bitcoin’s rise in the financial market.  

Positive or negative words in social media channels are powerful predictors of the value of the popular cryptocurrency known as bitcoin, Lindner researchers say.

In a blog post published in The Business Review online, Lindner College of Business researchers Zhe (Jay) Shan, Roger Chiang, Feng Mai, Qing Bai and Xin (Shane) Wang examined the volatile bitcoin market and internet variables such as bitcoin web traffic, investor forum messages, Twitter and Google searches that drive the value and predict trends in the financial market.

The research from Shan, assistant professor in the Department of Operations, Business Analytics, and Information Systems at the Lindner College of Business; Chiang, professor in the Department of Operations, Business Analytics, and Information Systems at the Lindner College of Business; Qing Bai, PhD '14, assistant professor of International Business & Management at Dickinson College; Fend Mai, PhD '15, assistant professor of information systems at the School of Business, Stevens Institute of Technology; and Xin (Shane) Wang, PhD '14, assistant professor in marketing and statistics at the Ivey Business School of Western University, is published in the Journal of Management Information Systems, 2018.