Forecasting the Price of Cryptocurrencies and Validating Using Arima

5 Pages Posted: 4 Apr 2019

See all articles by Ruchi Mittal

Ruchi Mittal

Netaji Subhas Institute of Technology (NSIT)

Rashmi Gehi

Netaji Subhas Institute of Technology (NSIT)

MPS Bhatia

Netaji Subhas Institute of Technology (NSIT)

Date Written: April 3, 2018

Abstract

With the increase in popularity of cryptocurrencies, it is becoming extremely crucial to predict what the prices of the currencies are going to be in the future. This paper uses a dataset that consists of over 1500 cryptocurrencies with their prices starting from their initiation till May, 2018. A lot of the effort went into getting the data set ready before predicting the future prices of all the cryptocurrencies, i.e., making sure that the cryptocurrencies were stationary time-series. Beginning with learning about the ARIMA model and the conditions to run the model successfully, first validation of the model is done. An average accuracy of 86.424 is observed for 95% of the currencies are observed. After this validation, forecasting is performed on these cryptocurrencies and the percentage change of the price is calculated.

Suggested Citation

Mittal, Ruchi and Gehi, Rashmi and Bhatia, MPS, Forecasting the Price of Cryptocurrencies and Validating Using Arima (April 3, 2018). International Journal of Information Systems & Management Science, Vol. 1, No. 2, 2018. Available at SSRN: https://ssrn.com/abstract=3364967

Ruchi Mittal (Contact Author)

Netaji Subhas Institute of Technology (NSIT) ( email )

Azad Hind Fauz Marg, Sector 3
Dwarka
New Delhi, Delhi 110078
India

Rashmi Gehi

Netaji Subhas Institute of Technology (NSIT) ( email )

Azad Hind Fauz Marg, Sector 3
Dwarka
New Delhi, Delhi 110078
India

MPS Bhatia

Netaji Subhas Institute of Technology (NSIT) ( email )

Azad Hind Fauz Marg, Sector 3
Dwarka
New Delhi, Delhi 110078
India

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