2024-04-16 Bitcoin News
2024-04-15
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Overall Trend Analysis
Firstly to analyze the overall trend, the raw exchange rates data was plotted against time. The plots show that exchange rates for BTC over the given time period have a slight general increase but also exhibit several substantial peaks and troughs. These fluctuations may obscure the trend so a moving average was computed to smooth the data and observe the underlying trend.
2. Seasonality or Recurring Patterns
On examination of the data, it seems to be no specific pattern in the increases and decreases of the exchange rates. The exchange rates fluctuate highly and constantly, which could be random or due to several factors that could not be explored with the given data. Therefore, it is crucial to note that predicting future rates or specific patterns can be challenging due to the high volatility of BTC.
3. Outliers Analysis
To identify outliers, we firstly statistically analyzed the exchange rates by calculating metrics like mean, median, quartiles, and standard deviation. Z-scores were computed to identify points that significantly deviate from the mean. Several exchange rates fall outside the acceptable Z-score range which indicates the presence of outliers. Further analysis would require a deeper study based on additional factors and using comprehensive statistical tools.
4. Considerations Beyond the Given Data
While this analysis was done solely considering the given data, it is important to acknowledge that real-world financial systems are influenced by a multitude of external factors. Market opening/closing hours, weekends/holidays, or the release of key financial news and reports can remarkably impact the exchange rates. Additionally, factors such as government regulations, market sentiment and behaviours, global economic conditions, and technological advancements, etc. can also significantly influence the trends and patterns observed. Therefore, any forecast or interpretation must consider these externalities for a holistic understanding.
