CandleFocus Predict Bitcoin’s Price
2024-10-13
Author: Content Editor
This content discusses the use of logarithms and moving averages to forecast the future price of Bitcoin. The author explains how exponential growth can be represented as a linear trend in logarithm space and presents a chart showing the logarithm of Bitcoin's price over the past 13+ years. The author fits a cubic equation to the data and determines that it provides a tight fit with a goodness of fit measure of 0.9492. However, the author cautions against overfitting the data with higher order polynomials and emphasizes the importance of out-of-sample predictions.
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