Effect of twitter investor engagement on cryptocurrencies during the COVID-19 pandemic

Ahmed Bouteska, Petr Hajek, Mohammad Abedin, Yizhe Dong

Research output: Contribution to journalArticlepeer-review

68 Downloads (Pure)


This study aims to examine whether the prices and returns of two cryptocurrencies, Dogecoin and Ethereum, are affected by Twitter engagement following the COVID-19 pandemic. We use the autoregressive integrated moving average with explanatory variables model to integrate the effects of investor attention and engagement on Dogecoin and Ethereum returns using data from December 31, 2020, to May 12, 2021. The results provide evidence supporting the hypothesis of a strong effect of Twitter investor engagement on Dogecoin returns; however, no potential impact is identified for Ethereum. These findings add to the growing evidence regarding the effect of social media on the cryptocurrency market and have useful implications for investors and corporate investment managers concerning investment decisions and trading strategies.
Original languageEnglish
Article number101850
Number of pages13
JournalResearch in International Business and Finance
Early online date20 Dec 2022
Publication statusPublished - 1 Jan 2023


Dive into the research topics of 'Effect of twitter investor engagement on cryptocurrencies during the COVID-19 pandemic'. Together they form a unique fingerprint.

Cite this