Dear readers, today i am going to tell you about, the interpretation of our findings.
I have always considered myself as a practical man, the desire to work less and earn more was very pronounced in my personality.
This has been the leading cause of our research, despite the academic value which our research brings, the biggest motivation to perform and analyze it was probably the perspective of earning money.
People who work in Wallstreet, knows better than anyone that the real currency in today's world is information.We believe that our research provided enough ground to draw some conclusions.
If you remember the sentiment graph which i have posted yesterday, we have identified 7 major spikes, which we investigated thoroughly.
As you can see two most significant spikes in sentiment occurred during the March 2017.
The main reason behind this spike was the fact that price of one Bitcoin surpassed the price of ounce of gold, this marks a huge milestone in cryptocurrency world, as well as a massive breakthrough in people's perception.
However shortly after, we encounter the biggest negative spike, once again caused by a obvious reason.
In U.S. there was ongoing debate in Securities Exchange Commission (SEC) whether to list Bitcoin as an exchange tradeable fund, which would have simplified acquisition of Bitcoin for many traditional traders and investors.The movement was mostly represented by the famous Winklevoss twins, well known Bitcoin proponents.
Unfortunately, SEC has decided that it is too early to list Bitcoin, arguing that currency is in it's inception stage and carries too much risk at this point due to it's volatility.
This information provides us insights into Bitcoin community's perception of the market events.It is clear that new's regarding the attractiveness of bitcoin and it's comparison to real tangible goods are very influential to market participants.We also observe the speculation element, since the SEC ruling anticipation bubble burst has caused the most significant negative spike through the investigated period.
Tomorrow i am going to touch upon next two sentiment spikes and share my insights, with my dear steemians.
Thank you for reading.
Feedback is welcome and appreciated.
