An Analysis of the Viability and Volatility of Cryptocurrency
Abstract
The field of cryptocurrency has enjoyed exponential growth in popularity in recent years. Almost ten years ago, the release of Bitcoin marked the beginning of a new era of innovation in the financial sector. In this dissertation we outline what exactly defines a cryptocurrency, describing fundamental
concepts, underlying technologies such as the blockchain, and subsequently he viability of this new digital financial asset. Building on this knowledge, we examine the infamous volatility of cryptocurrency prices, analysing pricing data and the likelihood of these currencies, specifically Bitcoin, being in the midst a financial bubble. We examine the prediction of prices, or rather inability to do so, before introducing the Currency Analyser web application developed as part of this project. Containing up to date prices, this web application is hosted on Heroku for public access and predicts prices of Bitcoin using machine learning. The research, planning methodologies, technologies, and design and evaluation of this application are described in detail in the penultimate chapter of this dissertation, followed by a concluding word on the process as a whole.
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