Abstract
Bitcoin is considered to be most valuable and expensive currency in the
world. Besides being first decentralized digital currency, its value has
also experienced a steep increase, from around 1 dollar in 2010 to
around 18000 in 2017. In recent years, it has attracted considerable
attention in a diverse set of fields, including economics, finance and
computer science. In economics, the primary focus has always been on
studying how it affects the market, determining reasons behinds its
price fluctuations, and predicting its future prices. In computer
science, the focus is on its vulnerabilities, scalability, and other
techno-cryptoeconomic issues. Firstly, we are going to collect the
historical data of Bitcoin prices over the years 2013 to 2019 and do
prediction for the year 2020. We have aimed to justify the usefulness of
traditional Autoregressive Integrative Moving Average (ARIMA) model for
predicting bitcoin prices. We have predicted the closing price of
bitcoin for first seven days of January 2020. Further, we have created
web services using ASP.NET to make the predictions on bitcoin price
online and lastly, we have plotted the results in a responsive chart
using Highcharts.