loading page

The Uncertainty of Cryptocurrency: How Bright is Bitcoin's Future?
  • Ryder Sousa,
  • Max Medearis
Ryder Sousa
Author Profile
Max Medearis
Author Profile

Abstract

In this report, we looked at the day by day Open, High, Low, and Close prices of Bitcoin from 2012-2020 and tested common ideas about the characteristics of the Cryptocurrency. In particular, we took a look as to whether or not Bitcoin is correlated to the movements of the stock market, and analyzed its movements in relation to the time of year. Using various forms of regression analysis, we found that Bitcoin is very tightly correlated with the stock market. We also found that time of year seems does not seem to have a uniquely large effect of the price movement of Bitcoin.