Sentiment Analysis toward Cryptocurrency
Most observed countries have a positive sentiment toward cryptocurrency. The analysis was conducted by selecting some countries as samples; the US, India, Indonesia, and Malaysia. Sentiment analysis for cryptocurrencies is considered an excellent way to understand how to make smart investment decisions (1). By using the NRC sentiment method (Saif Mohammad, 2011), the writer studies the sentiment toward bitcoin as a keyword representing cryptocurrency in the social media medium of Twitter.
Cryptocurrency as a specific financial instrument has various views; there are both pros and cons. The pros are including: (1) Acceleration, cost reduction, and significant simplification of settlements between entities, since the scheme excludes “unnecessary” intermediaries; (2) Protection from inflationary processes; (3) The amount of issued bitcoins grows at a predetermined rate, unlike public money printed by the government at its own discretion (Swan 2017).
American sentiment toward cryptocurrency
The USA's sentiment toward cryptocurrency is positive as a developed country with more cryptocurrency applications in daily life. Businesses like Tesla, Microsoft, PayPal, Starbucks, Overstock, and AT&T have started accepting cryptocurrencies, underscoring their growing influence across diverse sectors (2).
