Unveiling the Impact of News on Bitcoin Price: A Comprehensive Scientific Research

A recently conducted scientific study named “Do bitcoin news information flow and return volatility fit the sequential information arrival hypothesis and the mixture of distribution hypothesis?” offers fascinating findings about the relationship between news and the price of Bitcoin, the cryptocurrency with the largest market value. Unlike previous similar studies, which largely used trading volume to evaluate the impact of news on price, this study is particularly notable for its use of news impact analysis on the price as a direct indicator. 24,316 News Articles from 64 News Sites Used The researchers gathered 24,316 news articles about Bitcoin from 64 news sites. To analyze the impact of these news articles on Bitcoin’s price and generate information flow data, they used Natural Language Processing (NLP) and Spearman correlation, branches of the Artificial Intelligence (AI) field that enable computers to comprehend and process human language. The results of the study reveal that […] The post Unveiling the Impact of News on Bitcoin Price: A Comprehensive Scientific Research appeared first on COINTURK NEWS.