To Fork or Not to Fork? Bitcoin Forks' Success Analysis Using Twitter Data: Preliminary Results

Research output: Contribution in Book/Catalog/Report/Conference proceedingConference contribution

Abstract

Bitcoin is a decentralized cryptocurrency. It is open-source; its design is public, nobody owns or controls it and everyone can take part. And Bitcoin, just like any other open-source projects, has been subject to forks.In this paper, we will consider some popular Bitcoin forks and we will examine if we can find a link between the value of the fork (i.e. its price) and the overall sentiment of the fork based on Twitter data. The forks we consider here are: Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Bitcoin Diamond (BCD), Bitcoin Private (BTCP), Bitcoin Atom (BCA), and Bitcoin SV (BSV). From the results, we can state that, for most cryptocurrencies studied here, the number of tweets follows the price trend more closely than the sentiment evolution does.The findings can have practical implications for both researchers and practitioners, indeed the results: (i) can be a stepping stone for future research on hard forks, (ii) can help practitioners identify the relevant indicators for hard forks price evolution.

Original languageEnglish
Title of host publication2022 4th Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2022
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages13-16
Number of pages4
ISBN (Electronic)9781665471589
DOIs
Publication statusPublished - 2022
Event4th Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2022 - Paris, France
Duration: 27 Sept 202230 Sept 2022

Publication series

Name2022 4th Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2022

Conference

Conference4th Conference on Blockchain Research and Applications for Innovative Networks and Services, BRAINS 2022
Country/TerritoryFrance
CityParis
Period27/09/2230/09/22

Keywords

  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Forks

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