{"id":1461,"date":"2017-12-10T13:49:55","date_gmt":"2017-12-10T13:49:55","guid":{"rendered":"http:\/\/kourentzes.com\/forecasting\/?p=1461"},"modified":"2018-06-20T19:15:35","modified_gmt":"2018-06-20T19:15:35","slug":"can-you-predict-the-closing-price-of-bitcoin","status":"publish","type":"post","link":"https:\/\/kourentzes.com\/forecasting\/2017\/12\/10\/can-you-predict-the-closing-price-of-bitcoin\/","title":{"rendered":"Can you predict the closing price of Bitcoin?"},"content":{"rendered":"<p>Lately, there has been a lot of talks whether Bitcoin is a bubble (about to burst) or not. The discussion is quite interesting, not only because there is potentially a lot of money involved, but also because it shows how our economic theories are primarily unclear and secondarily incomplete on concepts such as bubbles and cryptocurrencies. Irrespectively of the various views of the &#8220;real&#8221; value of Bitcoin, most agree that it is fueled by lots of speculation. That made me wonder, how well can crowdsourcing anticipate its movements?<\/p>\n<p>I built the app below that will update with the daily closing prices and also show how successful or not yesterday&#8217;s predictions were. Apart from getting your forecasts, I would be interested to get your views about this in the comments.<\/p>\n<p style=\"text-align: justify;\"><iframe loading=\"lazy\" id=\"Bitcoin price\" style=\"border: none; width: 100%; height: 630px;\" src=\"https:\/\/kourentzes.shinyapps.io\/shinyBTC\/\" width=\"300\" height=\"150\" frameborder=\"0\"><\/iframe><\/p>\n<p>Check again tomorrow to see what was the outcome on today&#8217;s closing price!<br \/>\nI provide here the latest tweets about bitcoin, to fuel your predictions!<br \/>\n[custom-twitter-feeds hashtag=&#8221;#bitcoin&#8221;]<\/p>\n<div class=\"SPOSTARBUST-Related-Posts\"><H3>Related Posts<\/H3><ul class=\"entry-meta\"><li class=\"SPOSTARBUST-Related-Post\"><a title=\"Visitor Arrivals Forecasts amid COVID-19: A Perspective from the Africa Team\" href=\"https:\/\/kourentzes.com\/forecasting\/2021\/07\/09\/visitor-arrivals-forecasts-amid-covid-19-a-perspective-from-the-africa-team\/\" rel=\"bookmark\">Visitor Arrivals Forecasts amid COVID-19: A Perspective from the Africa Team<\/a><\/li>\n<li class=\"SPOSTARBUST-Related-Post\"><a title=\"Judgmental Selection of Forecasting Models\" href=\"https:\/\/kourentzes.com\/forecasting\/2018\/06\/20\/judgmental-selection-of-forecasting-models\/\" rel=\"bookmark\">Judgmental Selection of Forecasting Models<\/a><\/li>\n<li class=\"SPOSTARBUST-Related-Post\"><a title=\"ISF2017 presentation: DIY forecasting &#8211; judgement, models &#038; judgmental model selection\" href=\"https:\/\/kourentzes.com\/forecasting\/2017\/07\/13\/isf2017-presentation-diy-forecasting-judgement-models-judgmental-model-selection\/\" rel=\"bookmark\">ISF2017 presentation: DIY forecasting &#8211; judgement, models &#038; judgmental model selection<\/a><\/li>\n<\/ul><\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Lately, there has been a lot of talks whether Bitcoin is a bubble (about to burst) or not. The discussion is quite interesting, not only because there is potentially a lot of money involved, but also because it shows how our economic theories are primarily unclear and secondarily incomplete on concepts such as bubbles and\u2026 <span class=\"read-more\"><a href=\"https:\/\/kourentzes.com\/forecasting\/2017\/12\/10\/can-you-predict-the-closing-price-of-bitcoin\/\">Read More &raquo;<\/a><\/span><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[41],"tags":[44,53],"_links":{"self":[{"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/posts\/1461"}],"collection":[{"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/comments?post=1461"}],"version-history":[{"count":6,"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/posts\/1461\/revisions"}],"predecessor-version":[{"id":1467,"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/posts\/1461\/revisions\/1467"}],"wp:attachment":[{"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/media?parent=1461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/categories?post=1461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kourentzes.com\/forecasting\/wp-json\/wp\/v2\/tags?post=1461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- WP Super Cache is installed but broken. 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