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- All Subjects: Economics
- Creators: Department of Information Systems
Sentiment analysis, which is a notably method in text mining, can be used to extract the sentiment from people’s opinion. It then provides us with valuable perception on a topic from the public’s attitude, which create more opportunities for deeper analysis and prediction.
The thesis aims to investigate public’s sentiment towards Bitcoin through analyzing 10 million Bitcoin related tweets and assigning sentiment points on tweets, then using sentiment fluctuation as a factor to predict future crypto fluctuation. Price prediction is achieved by using a machine learning model called Recurrent Neural Network which automatically learns the pattern and generate following results with memory. The analysis revels slight connection between sentiment and crypto currency and the Neural Network model showed a strong connection between sentiment score and future price prediction.
In the 21st century economy, life moves pretty fast, and change is happening all around us. For example, it was common to drive to shopping malls with your friends or family and spend the whole afternoon browsing through hundreds of items until you found the perfect purchase. Or, only a few months ago, the entire world was put on lockdown to stop the spread of COVID-19, which caused a recession when consumers stopped spending as much to start saving. Americans also used to enjoy their loud, gas-guzzling cars and trucks to get them from place to place. Now what changed, and why? The study of economics justifies how we, as human, fundamentally live and make choices every day. As we notice the results of our choices, we may continue to do the same the next day, temporarily go another route, or alter our behavior permanently. This framework presents the concept of innovation. By applying this logic to the business world, I will attempt to analyze and defend why the innovations of e-commerce, COVID-19 vaccines, and electric vehicles were the natural cause of society changing perspective to move forward toward a better tomorrow.