Utilization of Forecasting Methods for Cryptocurrencies
Keywords:cryptocurrency, statistical processing, electronic money, BitCoin, forecasting
Electronic money has evolved in one of the relevant ways to achieve electronic payment, that is, a form of payment with significantly lower online transactions. The idea for the development of the above has consolidated the segment of retaining all the favourable characteristics of cash while eliminating deficiencies. The paper purpose is to discuss the relevance of electronic money or alternative currencies, cryptocurrencies, and to present statistical processing the most 30 influential cryptocurrencies with an emphasis on the most popular cryptocurrency called Bitcoin. We elaborate on the main differences between the virtual currency and electronic money after we present the historical development of cryptocurrencies. In the end, we present the statistical and forecasting analysis of the most important cryptocurrencies.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Buchak, G., Matvos, G., Piskorski, T., Seru, A. (2018), “Fintech, regulatory arbitrage, and the rise of shadow banks”, Journal of Financial Economics, Vol. 130, No. 3, pp. 453-483.
Deutsche Bank. (2017). “ROBIN offers portfolio management for retail investors”, available at: https://www.db.com/newsroom_news/2017/deutsche-bank-robin-offers-portfolio-management-for-retail-investors-en-11743.htm (6 March, 2020)
EFMA. (2017), “Innovation in retail banking 2017: reimagine banking, available at: https://www.efma.com/study/detail/26476 (21January 2020)
Ein Presswire. (2017), “Alpaca partners with Jibun Bank to provide FX forecast AI”, available at: https://www.einpresswire.com/article/393091271/alpaca-partners-with-jibun-bank-to-provide-fx-forecast-ai (22 February 2020)
Gai, K., Qiu, M., Sun, X. (2018), “A survey on FinTech”, Journal of Network and Computer Applications, Vol. 103, pp. 262-273.
Kensho. (2018), ‘Homepage”, available at: https://www.kensho.com/ (28 March 2020)
Lee, I., Shin, Y. J. (2018), “Fintech: ecosystem, business models, investment decisions, and challenges”, Business Horizons, Vol. 61, No. 1, pp. 35-46.
Marrara, S., Pejic-Bach, M., Seljan, S., Topalovic, A. (2019), “FinTech and SMEs: the Italian case”, in FinTech as a Disruptive Technology for Financial Institutions, IGI Global, Hershey, pp. 14-41.
Voras, I. (2017), The Sceptic’s guide to Bitcoin, Cryptocurrencies and the Blockchain, Independent Publisher.
Wilkinson, D. (2017), “Open banking and the API economy, DWC – Strategy innovation leadership & FinTech network, available at: http://retailbankinginnovation.fintecnet.com/uploads/2/4/3/8/24384857/fintech_dwc_report_v2.pdf (16 June 2020)
World Economic Forum (WEF). (2015), “The future of financial services how disruptive innovations are reshaping the way financial services are structured, provisioned and consumed”, available at: http://www3.weforum.org/docs/WEF_The_future__of_financial_services.pdf (22 July 2020)
World Economic Forum (WEF). (2016), “The future of financial infrastructure: an ambitious look at how blockchain can reshape financial services”, available at: http://www3.weforum.org/docs/WEF_The_future_of_financial_infrastructure.pdf (22 July 2020)
World Economic Forum (WEF). (2017), “Beyond Fintech: a pragmatic assessment of disruptive potential in financial services”, available at: http://www3.weforum.org/docs/Beyond_Fintech_-_A_Pragmatic_Assessment_of_Disruptive_Potential_in_Financial_Services.pdf (27 July 2020)