Abstract:

This paper analyzes the descriptive statistics of Bitcoin cryptocurrency, in the course of which the price change dynamics within 2011-2018 is studied. In addition, descriptive analysis models have been constructed for Bitcoin price change. However, descriptive models cannot give exact predictions of the value of the dependent variable, so ARIMA methodology was used in order to present models that can be used to make projections for the future. Thus, in the plotted graphs the calculated values of the price change show the same trend as the real data. The research study has identified significant and not significant relationships between dependent and independent variables, as well as the orders of auto-regression and moving average, which affect dependent variables. Dependent variables have been simulated with the use of ARIMA methodology. The obtained data can be used further on to construct projection models of dynamics and trading volume change of Bitcoin cryptocurrency.