The impact of public sentiment on crypto resilience during COVID-19 pandemic

This study investigates the change in sentiment during the COVID-19 pandemic and examines the correlation between positive/negative sentiment and cryptocurrency price movements. By analyzing sentiment data from open-source tweets before and during the crisis, the research aims to provide insights into the impact of sentiment on the cryptocurrency market. The findings reveal a relationship between sentiment polarity and volatility, with a positive score influencing volatility during the pre-pandemic period. However, the impact on returns is weak in both periods. Additionally, the results suggest that sentiment alone does not explain the price fluctuation in the market, and other factors may play a significant role.