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Bitcoins are digital money that is generated/mined and transmitted without the need for any central authority. Meanwhile, based on the envisaged advantages of the blockchain network, many altcoins have been created. Regarding to early years of Bitcoin, dominant motives were illegal activities and computer programming rather than Libertarian ideology or investment expectations [2]. Ref. [3] tracked the Bitcoin attraction via Google trends, and Ref. [4], [5] measured the interest in Bitcoin using the data from Google, Wikipedia, Twitter and Facebook. Ref. [6] studied cross-correlations between online searches (Google Trends) and Bitcoin market. Ref. [7] showed presence of multifractal cross-correlations between online sentiment proxies retrieved from Google Trends and Twitter using MF-DCCA.

More importantly, the subreddit does not condole crowdfunding referral links or advertisements. While a daily discussion is started automatically every day, the daily discussions are not closed when a day is finished. This means that people could and did still post comments while the next daily discussion was already opened. Comments made on a daily discussion, but after the day had finished, were note collected for this blog. Furthermore, as a lot of comments were either meaningless as they contained only a few words or as some were simply spam.

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With so many users sharing their insights and experiences, traders have access to a wealth of information and resources. While the market can be volatile and risky, traders who stay informed and engaged can potentially reap significant rewards. One of the primary topics of discussion on Reddit is the volatility of the market. Crypto forex traders are well aware of the high risk and potential rewards of trading in this market.

Also, the subreddit bitcoinmarkets does not allow links to YouTube videos that are irrelevant to bitcoin trading. Likewise, the moderators of bitcoinmarkets reddit consider price updates as spam. To be able to perform such a study, different sorts of data from different sources should be collected. For example, daily cryptocurrency prices and daily social media comments. This blog will only go into more detail on how the daily social media comments were collected.

arXivLabs: experimental projects with community collaborators

Ref. [24] examined the cross-correlations between returns and volume change in Bitcoin exchange markets from all over the world using MF-DCCA. Ref. [26] applied an extension of MF-DCCA to analyze the asymmetry of the cross-correlations for Bitcoin, commodities and stock market indices. Results indicate that Bitcoin differs from commodities and stock market indices considering its ultracoin price relationship. Unlike the daily discussion thread that majorly focuses on bitcoin-related topics, the altcoin discussion thread encompasses the entirety of the crypto market. Besides, the same guidelines governing daily discussion also applies to altcoin discussion. On bitcoinmarkets reddit, you can contribute topics, market tips, trading strategies, and technical analysis.

[8], [9], [10] are examples to cross-correlations between stock market data and news-sentiment related data. Studies indicate presence of multifractal cross-correlations in common. In recent years, cryptocurrencies and forex trading have become increasingly popular among investors and traders.

Investor attention and bitcoin liquidity: Evidence from bitcoin tweets

There exist different subreddits dedicated to those cryptocurrencies and some even have daily discussions. These daily discussions are opened on each new day and contain discussions on topics related to that day. These discussions might be on price speculations or the technology behind the cryptocurrency. There might even be discussions on material found on other social media, like e.g. tweets or posts made on Facebook.

• The time series regarding to USD and BTC markets of altcoins share similar dynamics with each other and that of Bitcoin in terms of anti-persistence and the degree of multifractality.
• You only need to ensure that your contributions align with the scope of the thread and that they are not stale.
• All the time series mainly indicate varying degree of multifractality for varying periods and anti-persistent behavior dominantly.

You can also find information on Medium, and by visiting the blogs of popular digital currency exchanges like Coinbase. In this post, we combed through thousands of subreddits to find our list of the Best Subreddits for Crypto Investors. The well structured and publicly available content is also one of the main reasons why Reddit was chosen as source for the data instead of Facebook or Twitter. Because the study was interested in data from months ago, it was quickly decided that Twitter and Facebook were not suitable.

Years of Kraken: CEO Dave Ripley on empowering the next billion crypto users

There are numerous subreddits focused on different aspects of the market, such as r/CryptoCurrency, r/Forex, r/BitcoinMarkets, r/ethtrader, and many others. R/cryptocurrency, r/bitcoin, and r/CryptoMoonShots ranked the highest on our list. These are three solid subreddits that grant you access to a wide array of information about this growing industry.

• Most importantly, all of these sites are designed to help you learn more about bitcoin and cryptocurrencies.
• The compound score is the sum of all lexcion ratings of the text which is then also standardised to range between -1 and 1.
• Any affiliation with an exchange/product/service that’s being discussed must be disclosed.
• The sentiment of the part after the term “but” is wieghted more heavily than the part in front of the “but”.
• There are also discussions about the impact of various economic and geopolitical events on the market, as well as the role of institutional investors in the space.

As it is with our culture, we have compiled the strengths and weaknesses of bitcoinmarkets reddit. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.

Search code, repositories, users, issues, pull requests…

R/BitcoinMarkets is not only a large community of bitcoin traders, but it has managed to keep its members active. From our review, we found that the daily discussion threads always had members buzzing about the latest events that could alter the price of bitcoin. This high volume of activities bodes well for newbies who are keen on accessing as much information as they can to improve their trading skills. The moderators want you to take the community seriously and to put some effort into ensuring that your contributions are top quality. Hence, you can’t make claims on bitcoinmarkets reddit without attaching evidence or use memes to express yourself.

With the rise of crypto forex trading, it’s no surprise that Reddit, a popular online platform, has become a hub for discussions, news, and insights about the market. The current Reddit API does not allow for specific time interval data collection and only allows data from around ten days ago to be gathered. However, an user of the Reddit API can provide the API with a discussion ID for which the comments need to be collected. Below the link to the external git can be found that explains in more detail how to collect the submission/discussion ID’s by using their code5. Moreover, I have written a script named submissionIDCollector.py that makes use of the pushshift api and is easy to use. This query thus specifies that we are looking for daily discussion submissions and the specific query might differ per subreddit.

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But also the words in fron of a specific term like with “extremely bad” or “kinda bad”. Finally, it also changes intensity of sentiment when the text includes the word “but”. The sentiment of the part after the term “but” is wieghted more heavily than the part in front of the “but”. This package belongs to the type of sentiment analysis that is based on lexicons of sentiment related words. So this means that in the lexicon, each word gets a rating on whether it is positive or negative and sometimes how positive or negative.