Twitter Sentiment Analysis on Bitcoin Price

Abstract

The price of cryptocurrency can be affected by several factors these years, such as technology, social media, COVID-19, etc. One of the examples of these factors is Elon Masks tweets about cryptocurrency, which help to increase cryptocurrency prices. With the spread of the epidemic, people are restricted from meeting in person. Therefore, more and more people are active on online social media sites such as Twitter. This research wants to determine if tweets related to cryptocurrency (Bitcoin, one of the most popular cryptocurrencies nowadays) affect price. By taking 5 machine learning models and the Granger causality test, the correlation and causation relationship between sentiment analysis and bitcoin price can be determined.