Analysis of the Prediction and Influencing Mechanism for Bitcoin Price

Minglei Lyu

2024

Abstract

As a matter of fact, with the rapid development of information technology, cryptocurrency has become a common tool for investment. Under the dramatically fluctuations markets globally, the cryptocurrency prices have been changed with a huge volatility. Among which, Bitcoin is the currency with the largest assets, also fluctuate significantly. With this in mind, this study will evaluate and estimate the influencing factors for Bitcoin prices. To be specific, the hedge and support mechanism for price of Bitcoin will be discussed and evaluated. In the meantime, the Autoregressive Integrated Moving Average (ARIMA) model is adopted in order to show the price trend prediction. In addition, the correlation analysis is adopted in order to find the intrinsic connections between other issues and cases. At the same time, the limitations and prospects will be demonstrated as well according to the analysis. Overall, these results shed light on guiding further exploration of Bitcoin pricing as well as provide a guideline for analysis of the inherit price for Bitcoin.

Paper Citation

in Harvard Style

Lyu M. (2024). Analysis of the Prediction and Influencing Mechanism for Bitcoin Price. In Proceedings of the 1st International Conference on E-commerce and Artificial Intelligence - Volume 1: ECAI; ISBN 978-989-758-726-9, SciTePress, pages 476-483. DOI: 10.5220/0013269000004568

in Bibtex Style

@conference{ecai24,
author={Minglei Lyu},
title={Analysis of the Prediction and Influencing Mechanism for Bitcoin Price},
booktitle={Proceedings of the 1st International Conference on E-commerce and Artificial Intelligence - Volume 1: ECAI},
year={2024},
pages={476-483},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0013269000004568},
isbn={978-989-758-726-9},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 1st International Conference on E-commerce and Artificial Intelligence - Volume 1: ECAI
TI - Analysis of the Prediction and Influencing Mechanism for Bitcoin Price
SN - 978-989-758-726-9
AU - Lyu M.
PY - 2024
SP - 476
EP - 483
DO - 10.5220/0013269000004568
PB - SciTePress