Keywords
Bitcoin
Time series
Submitted : 2022-09-21
Accepted : 2022-10-06
Published : 2022-10-21
Abstract
In this paper, we analyze the time-series graphs of Bitcoin price and Twitter-based economic uncertainty index over the past two years and use a wavelet coherence graph to determine their relationship. We found a causal relationship between Bitcoin (BTC) and Twitter-based economic uncertainty (TEU) index in different frequency bands, which would help predict Bitcoin price movements in the future. Our study provides reference to academics and investors.
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