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Analysis of “Understanding Social Factors Affecting the Cryptocurrency Market” Article

Aggarval, G., Patel, V., Varshney, G., & Oostman, K. (2019). Understanding social factors affecting the cryptocurrency market. 

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The scholars identify and discuss the essential aspects that impact the cryptocurrency market, as well as analyze specific factors that drive this market. The pilot user survey is provided to realize and show the social perspective of the perception of cryptocurrencies. According to this study, the correlation between societal factors and market trends cannot be considered significant. The authors argue that the fluctuations within the scope of the cryptocurrency market do not stay in line with the expectations of traders. It is stressed that cryptocurrencies are not stocks to invest in, and they cannot be perceived in the way stock markets are perceived.

It seems reasonable to state that the source is reliable and can be referred to in the framework of the ongoing research. The authors are as follows: Gourang Aggarwal, Vimal Patel, Gaurav Varshney, and Kimberly Oostman. The former three scholars are from the Computer Science Department NIIT University, Nemrana, which implies a considerable extent of background. In turn, the presence of Kimberly Oostman, who works at the Department of Communication and Journalism University of New Mexico Albuquerque, allows assuming that this scholar contributed to in-depth research and proper approach to conducting the survey.

The research question is how social factors can affect the crypto market. Given the abovementioned rationale and summary of the article, it seems apparent that the article is directly related to this research question. The focus will be on the social factors within the crypto market, and the analyzed study will be a great theoretical foundation to explore the issue to the necessary degree. The authors demonstrate coherent, clear, and consistent arguments, which is essential for such fundamental investigations.

Reference

Aggarval, G., Patel, V., Varshney, G., & Oostman, K. (2019). Understanding social factors affecting the cryptocurrency market. arxiv.org.

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StudyCorgi. "Analysis of “Understanding Social Factors Affecting the Cryptocurrency Market” Article." December 20, 2022. https://studycorgi.com/analysis-of-understanding-social-factors-affecting-the-cryptocurrency-market-article/.

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StudyCorgi. 2022. "Analysis of “Understanding Social Factors Affecting the Cryptocurrency Market” Article." December 20, 2022. https://studycorgi.com/analysis-of-understanding-social-factors-affecting-the-cryptocurrency-market-article/.

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StudyCorgi. (2022) 'Analysis of “Understanding Social Factors Affecting the Cryptocurrency Market” Article'. 20 December.

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