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Project About Bitcoin EXECUTIVE SUMMARY

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Added on  2021-02-20

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This report has defined about different calculations which has been done for determining the weekly closing prices of Bitcoin along with the help of line graph and histograph. Also, with the help of descriptive statistics analysis has been done about Bitcoin weekly return in respect of three aspects viz. As per the line graph drawn above, it can be concluded that the weekly closing price of Bitcoin from the year 2013 till the year 2019 has been facing fluctuating trends.

Project About Bitcoin EXECUTIVE SUMMARY

   Added on 2021-02-20

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Project about Bitcoin
Project About Bitcoin EXECUTIVE SUMMARY_1
EXECUTIVE SUMMARYFrom the present report assessement has been done about Bitcoin which is one of the famous andwell known cryptocurrency. This report has defined about different calculations which has beendone for determining the weekly closing prices of Bitcoin along with the help of line graph andhistograph. Also, with the help of descriptive statistics analysis has been done about Bitcoinweekly returnin respect of three aspects viz. Location, Shape and Spread.
Project About Bitcoin EXECUTIVE SUMMARY_2
TABLE OF CONTENTSEXECUTIVE SUMMARY.........................................................................................................................2INTRODUCTION.......................................................................................................................................4ANALYSIS – PART A................................................................................................................................41.Line graph presenting the weekly closing price of Bitcoin................................................................42.Calculating weekly return for BIT and constructing histogram.........................................................53.Calculating & interpreting three aspects of Descriptive Analysis for weekly return: Location, Shapeand Spread.................................................................................................................................................54.Constructing 95% confidence interval for BIT return.......................................................................65.Reasoning..........................................................................................................................................76.Macquarie Group Limited.................................................................................................................71.Line graph.....................................................................................................................................82.Calculating weekly return for MAC..................................................................................................83.Calculating & interpreting Descriptive Analysis for weekly return...................................................94.Constructing 95% confidence interval for MAC return.................................................................95.Reasoning....................................................................................................................................107.Contingency table............................................................................................................................10CONCLUSION..........................................................................................................................................11REFERENCES..........................................................................................................................................12APPENDIX.................................................................................................................................................13
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INTRODUCTION Bitcoin in todays world is known as one of the best as well as popular cryptocurrency which hasbecome part of most the companies and businesses. For its effective and better use, manyinvention has been done in relation to technological advancement. Blockchain technology hasbeen invented for assisting the functioning of such cryptocurrency which is a form ofdecentralized legder depicting about all the transactions through peer to peer network. Thepresent report is about evaluating the recent prices of Bitcoin. Also, it will form basis on suchpricing evidence of weekly returns that whether individuals should adopt for making investmentin such cryptocurrency i.e. Bitcoin. ANALYSIS – PART A1.Line graph presenting the weekly closing price of Bitcoin.3/11/20136/17/20139/23/201312/30/20134/7/20147/14/201410/20/20141/26/20155/4/20158/10/201511/16/20152/22/20165/30/20169/5/201612/12/20163/20/20176/26/201710/2/20171/8/20184/16/20187/23/201810/29/20182/4/20195/13/2019050001000015000200002500030000BITAs per the line graph drawn above, it can be concluded that the weekly closing price ofBitcoin from the year 2013 till the year 2019 has been facing fluctuating trends. In year 2013,there has been a negligible increase in the prices of Bitcoin which has been followed by theseveral coming years. It can be interpreted that there has been a very small or no significantchanges in the weekly closing prices of Bitcoin from the time period 2013 till the year 2016. Inthe year 2017, there has been a rise in the weekly price of Bitcoin which keeps on increasing athigh phase (Bowden and et.al., 2018). There has been a drastic change in the price of Bitcoin in
Project About Bitcoin EXECUTIVE SUMMARY_4
2018 as compared to the previous year closing prices when calculated on weekly basis. In 2019, itcan be noticed that a declining trend has come in the price of Bitcoin which again rises withincreasing rate in the coming year.2.Calculating weekly return for BIT and constructing histogram. From the above histogram it can be evaluated that there has been declining trend in the weeklyreturn for Bitcoin price. A fluctuating trend in the value of Bitcoin price has been noticed within atime frame ranging from the year 2013 to 2019. In the year 2013, the price of Bitcoin was 52.06which has faced a mix trend of either increasing or decreasing phase till it reaches the price of15348.8 in the year 2019. There has been a decline in the value of weekly return has been noticedin a particular time period of every single year. Also, some positivity has been seen in the price ofsuch crypto currency named as Bitcoin. The most fluctuating trend which has been noticed was inthe year 2019 which has showed both the increase as well as decline in the weeky return value ofBitcoin as compared to the other time period.3.Calculating & interpreting three aspects of Descriptive Analysis for weekly return: Location,Shape and Spread.Descriptive statistics of weekly returnParticularsWeekly return
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Mean0.027Standard Error0.008Median0.014Mode#N/AStandard Deviation0.147Sample Variance0.022Kurtosis6.297Skewness1.514Range1.255Minimum-0.398Maximum0.857Sum8.974Count335Confidence Level (95.0%)0.016As per the calculation of descriptive statistics done, the mean value calculated for theBitcoin was 0.027. When it come to determining median value, 0.014 is the median value whichhas been assessed on the basis of weekly return by considering the location, shape and spread ofBitcoin. It has been difficult for determining the modal value with present data set therefore, nomode value has been assessed. In case of standard error done, value determined is 0.008 withdeviation of 0.147 and sample variance of 0.022. The maximum value ascertained with the help ofdescriptive statistics is 0.857 with -0.398 as its minimum value. Thus, with the help of highest andlowest value, Range value has been able to determined i.e. 1.255. At last, at confidence level of95% 0.016 is the value determined for Bitcoin. 4.Constructing 95% confidence interval for BIT return.BITConfidence Level95%Ship An335Mean3%Std Dev0.147176168RESULTSSE0.008
Project About Bitcoin EXECUTIVE SUMMARY_6
Z1.960Margin of Error0.016Lower Limit1%Upper Limit4%In case of Bit return, at 95% confidence level the limit of lower return is 1% with its upper limit as 4%.5.ReasoningInput hypothetical meanvalue2%Average return3%SQRT N18.30300522T-0.34DOF334.00Critical value1.968Critical value VS T valuetvalue is smaller than critical value(-0.34<1.968), so the mean of data set is notsignificantly different fromμ0=2%6.Macquarie Group Limited
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1.Line graph3/11/20136/17/20139/23/201312/30/20134/7/20147/14/201410/20/20141/26/20155/4/20158/10/201511/16/20152/22/20165/30/20169/5/201612/12/20163/20/20176/26/201710/2/20171/8/20184/16/20187/23/201810/29/20182/4/20195/13/2019020406080100120140160MACAbove line graph concluded that weekly closing price of MAC from the year 2013 to 2019has increasing trends. As compared to 2013 significant increase in MAC prices has beenobserved. In the year 2013, the weekly price of MAC was which increases to . There has been adrastic change in the MAC prices in 2019 as compared to previous year closing prices. 2.Calculating weekly return for MAC
Project About Bitcoin EXECUTIVE SUMMARY_8

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