✍️ [Analysis] Understanding social factors affecting the cryptocurrency market - Gourang Aggarwal, Vimal Patel, Gaurav Varshney, and Kimberly Oostman

The cryptocurrency market cannot be analyzed like the stock markets. Over six months, three researchers from the NIIT University recorded popular and trending cryptocurrency news and tracked it against price spikes and crashes. Through a correlation attribution method, they found that most news stories follow common logic: a celebrity endorsement or announcement from a respected firm moves cryptocurrency prices as expected. The correlation, however, was not statistically significant. Furthermore, some news pieces track counter-intuitively against prices, particularly regulatory news. Self-confessedly, the researchers noted a lack of proper methodology for localized movements within their macro framework. Even still, they came to the conclusion that the cryptocurrency and stock markets do not trade in similar manners, most likely due to the youthfulness of the former market.