Forecasting the Bitcoin Closing Price in Times of the Pandemic Using Box-Jenkins Methodology

Răzvan Gabriel Hapau ()
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Răzvan Gabriel Hapau: Doctoral School of Economics and Business Administration, West University of Timisoara

Chapter Chapter 22 in Post-Pandemic Realities and Growth in Eastern Europe, 2022, pp 387-406 from Springer

Abstract: Abstract The epidemic has impacted every financial product, including the stock market, commodities market, and even cryptocurrency. The epidemic of COVID-19 has struck devastation on the economy. The recent decline in the bitcoin market should be regarded as a blip on the radar. Bitcoin is a decentralized digital currency that should be considered an asset class with a long-term growth forecast. In 2020, the most popular cryptocurrency, Bitcoin, has become a precious asset. When we look at Bitcoin’s previous pricing, we can see that it has increased by more than 500% in just 6 months. In this scenario, providing recent estimates for the closing price of Bitcoin shortly using the Box-Jenkins model for the period 2021–2022 becomes even more relevant. As a consequence of the five-step iterative approach, the empirical data indicated that the price of bitcoin is projected to rise shortly in both static and dynamic forecasts.

Keywords: Bitcoin; Pandemic; Box-Jenkins; ARIMA; Forecasting (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-09421-7_22

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DOI: 10.1007/978-3-031-09421-7_22

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