This project is about using public available data to predict bitcoin price. They are using the gold prices, inflation rate and GPU pricing as their data. Their objective is to see whether the can predict the price of bitcoins.
What I like about this project is that the topic is very popular and challenging. Everyone knows Bitcoins and cares about it price but only few people know how it works. Also, their data selection is very cautious. They included a similar asset in their model to assist their analysis. Moreover, the group included much reference in their proposal. It seems that they have read much related literature to better assess this topic.
What I concern about this project is that the data they retrieved are from different resources. The data might have different format and the group needs to compile the data for their own use. Also, I assume that Bitcoin pricing is very complex so that the three features might not be conclusive enough to predict the Bitcoin price. There might be some underfitting problems. Moreover, the group did not mention what method they are going to try. They knew that Bitcoin price cannot be explained by some theories and models but did not point out what they are going to use in this project.
This project is about using public available data to predict bitcoin price. They are using the gold prices, inflation rate and GPU pricing as their data. Their objective is to see whether the can predict the price of bitcoins.
What I like about this project is that the topic is very popular and challenging. Everyone knows Bitcoins and cares about it price but only few people know how it works. Also, their data selection is very cautious. They included a similar asset in their model to assist their analysis. Moreover, the group included much reference in their proposal. It seems that they have read much related literature to better assess this topic.
What I concern about this project is that the data they retrieved are from different resources. The data might have different format and the group needs to compile the data for their own use. Also, I assume that Bitcoin pricing is very complex so that the three features might not be conclusive enough to predict the Bitcoin price. There might be some underfitting problems. Moreover, the group did not mention what method they are going to try. They knew that Bitcoin price cannot be explained by some theories and models but did not point out what they are going to use in this project.