Version 1
: Received: 28 February 2023 / Approved: 28 February 2023 / Online: 28 February 2023 (06:53:11 CET)
How to cite:
Shah, R. The Impact of Celebrity Endorsements on the Cryptocurrency
Industry Through a Multi-Level Latent Class Analysis and
Multidisciplinary Study. Preprints2023, 2023020511. https://doi.org/10.20944/preprints202302.0511.v1
Shah, R. The Impact of Celebrity Endorsements on the Cryptocurrency
Industry Through a Multi-Level Latent Class Analysis and
Multidisciplinary Study. Preprints 2023, 2023020511. https://doi.org/10.20944/preprints202302.0511.v1
Shah, R. The Impact of Celebrity Endorsements on the Cryptocurrency
Industry Through a Multi-Level Latent Class Analysis and
Multidisciplinary Study. Preprints2023, 2023020511. https://doi.org/10.20944/preprints202302.0511.v1
APA Style
Shah, R. (2023). The Impact of Celebrity Endorsements on the Cryptocurrency
Industry Through a Multi-Level Latent Class Analysis and
Multidisciplinary Study. Preprints. https://doi.org/10.20944/preprints202302.0511.v1
Chicago/Turabian Style
Shah, R. 2023 "The Impact of Celebrity Endorsements on the Cryptocurrency
Industry Through a Multi-Level Latent Class Analysis and
Multidisciplinary Study" Preprints. https://doi.org/10.20944/preprints202302.0511.v1
Abstract
This research paper aims to examine the various aspects of cryptocurrencies, from their inception to their current status in the financial market, using a multidisciplinary approach that incorporates mathematical and psychological methods to explore the factors that contribute to the success of celebrity endorsements and the potential risks associated with them. The first section (1.1) of this research paper will provide an overview of cryptocurrencies, exploring their history, functionality, and impact on the global financial market. This will involve examining the technical details behind cryptocurrencies, such as blockchain technology, and the differences between various types of virtual assets. The research will also discuss the potential advantages and disadvantages of investing in cryptocurrencies, as well as the regulatory challenges they face. The second section (2.1) of the research paper will focus on the psychological aspect of cryptocurrency investing, analyzing the connection between personality traits and the likelihood of purchasing a cryptocurrency based on a celebrity endorsement. This will involve investigating Howard Gardner's theory of multiple intelligences to understand the qualities that make people more susceptible to investing in a cryptocurrency without prior knowledge (Gardner, 1983). The third section (3.1) of the research paper will delve into the mathematical side of cryptocurrency investing, examining the factors that contribute to the success of celebrity endorsements and the artificial growth of cryptocurrencies. This will involve developing software to calculate the artificial growth of a cryptocurrency over a 24-hour period and analyzing the data to understand the underlying factors driving its value. By taking a multidisciplinary approach, this research will shed light on the complexities of investing in virtual assets and help inform investors of the potential risks and benefits of investing in cryptocurrencies through qualitative and quantitative analyses and through the use of a Multi-Level Latent Class Analysis (LCA).
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
