RESEARCH ON BEHAVIORAL FACTORS OF CRYPTOCURRENCY MARKET STAKEHOLDERS IN THE TIKTOK SOCIAL NETWORK
DOI:
https://doi.org/10.31732/2663-2209-2024-75-172-182Keywords:
behavioral economics, cryptocurrency, behavioral factors, social networks, TikTokAbstract
The cryptocurrency market is dynamic and vulnerable to various factors, including economic, political and social events. Stakeholder interest in the cryptocurrency market continues to grow. The purpose of the article is to analyze the behavioral factors of cryptocurrency market stakeholders among users of the TikTok social network. Materials for this study are raw information obtained with further analysis through the Social Media API service of the DATA365 company. An analysis of the main aspects of user interaction with cryptocurrency topics on TikTok, analysis of the dynamics of distribution and commenting in the context of cryptocurrency publications, analysis of changes in popularity and interaction with content on the topic of cryptocurrencies using data scaling was carried out. Particular attention is paid to the study of the influence of market behavior on the interest and activity of users in the social network Tiktok by comparing the number of posts and the price of bitcoin. The obtained results made it possible to draw the following conclusions: the analysis of the dynamics of cryptocurrency publications on TikTok shows that since 2019, interest in this topic is constantly growing. The impact of important events on user activity is clearly visible; the activity of cryptocurrency market participants is subject to seasonal fluctuations and is cyclical; analysis of the list of active TikTok users allows us to draw a conclusion about the growing interest in the cryptosphere and the important role of social networks in popularizing information about cryptocurrencies; the analysis of posts on the TikTok social network shows the importance of the English language as a means of international communication and popularization of cryptocurrencies; the analysis of emojis in the descriptions of TikTok videos indicates a positive attitude of users towards cryptocurrencies and bitcoin in this social service, as well as their willingness to actively express their feelings and reactions to events in the world of cryptocurrencies.
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