Bitcoin Price Prediction Using Arima Model

Abstract

In recent times, Bitcoin and other cryptocurrencies have gained much notice as fresh alternatives for investment. Our study focuses on using the ARIMA model, which is a common statistical trick for anticipating future Bitcoin values, to add to time series prediction research. The target of our research is to see how accurately this model can guess price changes in Bitcoin over a set period. We gathered daily data on Bitcoin prices and tested it using this model. The data went through a process of altering and transforming its values during the early stages to address issues related to fluctuations and trends in the data. We tailored the ARIMA model to fit the pre-made dataset. Certain elements like lag orders (p, d, and q) were tweaked for the best match.