{"title":"埃隆·马斯克的推特活动如何影响加密货币市场","authors":"Lennart Ante","doi":"10.2139/ssrn.3778844","DOIUrl":null,"url":null,"abstract":"Elon Musk, the richest person in the world, is considered a technological visionary and has over 44.7 million Twitter followers. We analyze to what extent Musk’s Twitter activity affects short-term cryptocurrency returns and volume. Based on six recent cryptocurrency-related Twitter activities, we identify highly significant abnormal trading volume following each event. Furthermore, we discover significantly abnormal returns of up to 18.99% for Bitcoin and 17.31% for Dogecoin across different time frames. Nevertheless, not all tweets lead to significant abnormal returns. Our study shows the significant impact that social media activity of influential and well-known individuals can have on cryptocurrencies.","PeriodicalId":329499,"journal":{"name":"Advertising & Marketing Law eJournal","volume":"27 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"79","resultStr":"{\"title\":\"How Elon Musk's Twitter Activity Moves Cryptocurrency Markets\",\"authors\":\"Lennart Ante\",\"doi\":\"10.2139/ssrn.3778844\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Elon Musk, the richest person in the world, is considered a technological visionary and has over 44.7 million Twitter followers. We analyze to what extent Musk’s Twitter activity affects short-term cryptocurrency returns and volume. Based on six recent cryptocurrency-related Twitter activities, we identify highly significant abnormal trading volume following each event. Furthermore, we discover significantly abnormal returns of up to 18.99% for Bitcoin and 17.31% for Dogecoin across different time frames. Nevertheless, not all tweets lead to significant abnormal returns. Our study shows the significant impact that social media activity of influential and well-known individuals can have on cryptocurrencies.\",\"PeriodicalId\":329499,\"journal\":{\"name\":\"Advertising & Marketing Law eJournal\",\"volume\":\"27 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-02-03\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"79\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Advertising & Marketing Law eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3778844\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Advertising & Marketing Law eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3778844","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
How Elon Musk's Twitter Activity Moves Cryptocurrency Markets
Elon Musk, the richest person in the world, is considered a technological visionary and has over 44.7 million Twitter followers. We analyze to what extent Musk’s Twitter activity affects short-term cryptocurrency returns and volume. Based on six recent cryptocurrency-related Twitter activities, we identify highly significant abnormal trading volume following each event. Furthermore, we discover significantly abnormal returns of up to 18.99% for Bitcoin and 17.31% for Dogecoin across different time frames. Nevertheless, not all tweets lead to significant abnormal returns. Our study shows the significant impact that social media activity of influential and well-known individuals can have on cryptocurrencies.
京公网安备 11010802042870号
京ICP备2023020795号-1
分享
求助内容：
应助结果提醒方式：
扫码关注我们
