Short-term prediction of bitcoin value based on ARIMA model

Yuan Zeng; Huilin Zhu

doi:10.1117/12.2648797

27 September 2022 Short-term prediction of bitcoin value based on ARIMA model

Yuan Zeng, Huilin Zhu

Proceedings Volume 12345, International Conference on Applied Statistics, Computational Mathematics, and Software Engineering (ASCMSE 2022); 123451B (2022) https://doi.org/10.1117/12.2648797
Event: 2022 International Conference on Applied Statistics, Computational Mathematics, and Software Engineering (ASCMSE 2022), 2022, Qingdao, China

Abstract

As the world's first and by far the most important cryptocurrency, Bitcoin's price has a strong volatility, which in turn may bring huge profits to investors or return to the original point overnight. Coupled with the dominance of Bitcoin in the currency market and its innovative nature, in summary, both from the perspective of investors and from the perspective of the country as a whole, such research on Bitcoin value prediction will have important practical and practical value. This article selects the daily value of Bitcoin from NASDAQ from January 2021 to March 2021 as data, and will use the ARIMA model and SPSS software to predict prices for the next seven days. By finding the relative error between the predicted value and the actual value in the next seven days, it is found that the values are very small, indicating that the prediction effect of the model is good, and the ARIMA model can be selected as a short-term prediction of the value of Bitcoin.

Citation Download Citation

Yuan Zeng and Huilin Zhu "Short-term prediction of bitcoin value based on ARIMA model", Proc. SPIE 12345, International Conference on Applied Statistics, Computational Mathematics, and Software Engineering (ASCMSE 2022), 123451B (27 September 2022); https://doi.org/10.1117/12.2648797

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