Mining Tweets to Predict Future Bitcoin Price

TL;DR

This paper analyzes Twitter data to explore the relationship between user conversations and Bitcoin price fluctuations, aiming to predict future prices using novel analytical techniques.

Contribution

It introduces new methods to analyze social media data for predicting Bitcoin prices, highlighting the relevance of Twitter conversations to market movements.

Findings

Twitter conversations correlate with Bitcoin price changes

Proposed methods improve prediction accuracy

Social media analysis can forecast future Bitcoin prices

Abstract

Bitcoin has increased investment interests in people during the last decade. We have seen an increase in the number of posts on social media platforms about cryptocurrency, especially Bitcoin. This project focuses on analyzing user tweet data in combination with Bitcoin price data to see the relevance between price fluctuations and the conversation between millions of people on Twitter. This study also exploits this relationship between user tweets and bitcoin prices to predict the future bitcoin price. We are utilizing novel techniques and methods to analyze the data and make price predictions.