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Tag: prediction

Back of the Envelope Calculation Values Bitcoin at $29,000

Category: Bitcoin, Commentary, Finance, News

Back of the Envelope Calculation Values Bitcoin at $29,000

A recent back of the envelope calculation ended up valuing bitcoin at $ 29,000. Initially, the computation model calculated a ballpark figure of the virtual currency at $16,000. A more comprehensive approach supplied the $29,000 estimate. A back of the envelope prediction is an informal calculation that uses estimates to attain a figure. It is better than guessing but less…

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South Korean Researchers Predict Bitcoin Price Using Forum Data

Category: Bitcoin, Commentary, Finance, News

South Korean Researchers Predict Bitcoin Price Using Forum Data

An open access, peer-reviewed research paper published on May 12, 2017, by researchers from Korea University and Kangnam University in South Korea has explained a method for predicting the fluctuation in the bitcoin price and transactions based on user opinions posted on online forums. The paper, entitled “When Bitcoin encounters information in an online forum: Using text mining to analyze…

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