Bitcoin is one of the revolutionary cryptocurrencies in the market today. Even though it was silent all along in the marketing world, it caught the eye of the entire world in the past few years by defying every forecasting algorithm ever made for it. Today, as of Feb 14, 2019, it stands at a market value of $3619.98, which is quite less as compared to prices in the year end of 2017 but still most of the online merchants have recognized it as a form of currency. Since then it has become kind of a stock market where people invest to generate profits.
Forecasting the value of bitcoin as forecasting the flow of stock market. Over the years many algorithms have been developed for forecasting stock markets, but very few have focused on bitcoin price prediction. In this project, we as a group have focused on predicting the price of Bitcoin prices for 10 days staring from Jan 17-Jan 26, 2019 based on historical price data by studying trends in the form of both seasonal and general trends. The forecasted prices would help you understand the risk factor involved in investing in the bitcoins and the possibility of having a profit or loss in it. With that said, it is to be recalled that forecasts models are most probably wrong and hence should always include a prediction error with it.