Bitcoin Prediction and Time Series Analysis

For supporting the decision-making process along with goal of useful information discovery, the mechanism which helps to illustrate and evaluate data with statistical and/or logical process and provides insight to relevant conclusion is termed as data analysis. Predictive analysis is used to predict the trends and behaviour patterns. The predictive model is exercised to understand how a similar unit collected from different samples exhibit performance in a special pattern. Cryptocurrency is the digital currency, for which unit generation and fund transfers are decentralized and regulated by encryption methodologies. Bitcoin is the first decentralized digital cryptocurrency, which has showed significant market capitalization growth in last few years. It is important to understand what drives the fluctuations of the bitcoin exchange price and to what extent they are predictable.