Crypto Currency and Korean Web1
In 2017, one of the most hottest issue in Korea was “Bitcoin”, or “Crypto Currency”.
This new form of asset, created with “Blockchain”, caught everyone’s attention in Korea.
But, ironically, not many people seems to understand the real value of this asset.
The chart above shows how often certain keywords are entered in the number one search engine in Korea, Naver. (Think of it as a Korean Google trend)
The Red line indicates the search frequency of “Bitcoin” The Green line indicates the search frequency of “Crypto Currency” The Purple line indicates the search frequency of “Block Chain”
Comparing this three key words, it is clear that “Block Chain” has relatively low interest above other two.
The intertest of bitcoin and crypto currency rose dramatically, but how many people do you think understands the importance of blockchain technology?
Then why do people buy and sell cryptos?
I betted on Stellar Lumes! I don’t know what it is but I chose it because it sounded like British pony tail girl. (Reva, famous cartoonist in Korea)
The image above shows the new method of sales in cryptos known as “Picture Sales”
Compare to stock, where gains and sinks are affected by unfas. and favos., the fluctuation of cyptocurrency should be explained by something else.
Rather than investing on its values, people invested on their belief that it will climb.
The investment strategy was no different from gambling.
Did government ever made people dream of happiness? _(Blue house petitions, voted 217495 times)_
In the market where only people buy and sell,
people raged,(the number 1 search frequency after the government anouncement: see you in election)
and market reacted.
In market where people determine price and price determines the public opinions. Can we predict the price by analyzing the public opinion?
Or something evern easier than that, can the public opinion on web be analyzed by textmining?
Can the Korean market be explained by the public opinion on web?
The relationship between google trend, wikipedia and price of bitcoin was covered in the past.
Predicting the price of bitcoin based on the public opinion on certain website based on deep learningwas also done in the past.
And especially, I thought the uniqueness of Korean market due to the “Premium price” made this question worth asking.
I will make Dc Inside Bitcoin Gallery as primary public factor. Dc Inside Bitcoin Gallery has the most hit and most views among all the websites in Korea that covers crypto currency. Think of it as reddit in United States.
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