Cryptocurrency in Indonesia: A Sentiment Analysis

  • Aisyah As-Salafiyah SMART Indonesia
  • Nurul Huda
  • Sakinah Sakinah
Keywords: Cryptocurrency, Sentiment Analysis, Indonesia, Generation Y, Generation Z, SentiStrenth


This study was carried out to ascertain the opinions of the Indonesian people, particularly Generations Y and Z, about the growth of cryptocurrency. This study used descriptive statistical analysis to analyse sentiment using primary data from 100 respondents through the questionnaire. The SentiStrength software is used to process the data. According to the findings, generations Y and Z in Indonesia tend to have more neutral sentiment (48%), positive sentiment (23%), negative sentiment (28%), and highly negative sentiment (1%). The findings of this research show that most respondents are more sceptical about cryptocurrency in Indonesia. Respondents, with a neutral sentiment, consider that the development of cryptocurrency has not been inclusive. Therefore, there is no positive or negative sentiment. However, this study also discovered that respondents' negative responses dominated the positive responses. As a result, the findings of this study can be used to develop suitable policies or education. The study's implication is to represent the overall perspective and offer a basic understanding of the opinion of the Indonesian Y and Z generations toward cryptocurrency.


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How to Cite
As-Salafiyah, A., Huda, N., & Sakinah, S. (2023). Cryptocurrency in Indonesia: A Sentiment Analysis. European Journal of Islamic Finance, 10(3), 1-8.