In this study, we developed a two-stage approach for exploring whether the information hidden in economic and technology determinants can accurately predict the Bitcoin exchange rate. In the first stage, two nonlinear feature selection methods comprising an artificial neural network and random forest are used to reduce the subset of potential predictors by measuring the importance of economic and technology factors. Thus, information obtained from economic and technology determinants is more important for predicting the Bitcoin exchange rate than the previous exchange rate. Our results showed that by using the economic and technology determinants, LSTM could achieve better predictive performance than the autoregressive integrated moving average, support vector regression, adaptive network fuzzy inference system, and LSTM methods, which all use the previous exchange rate. Some studies have used traditional statistical and econometric methods to understand the economic and technology determinants of Bitcoin, few have considered the development of predictive models using these determinants. In the second stage, the potential predictors are integrated into long short-term memory (LSTM) to predict the Bitcoin exchange rate regardless of the previous exchange rate. Abstract: In recent years, Bitcoin exchange rate prediction has attracted the interest of researchers and investors.
Since then, Dogecoin has become an icon in the internet-powered retail investor era we live in today. Dogecoin was created in the early days of crypto, soon after major players like Bitcoin and cryptocurrency Litecoin. The original idea behind Dogecoin was to create a more memorable cryptocurrency project to help the public understand the technology behind blockchains. The meme coin's logo, the Shiba Inu, has been hard to avoid in 2021. Branding itself the "fun and friendly" internet currency, Dogecoin is a peer-to-peer and open-source digital currency introduced in December of 2013.
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Its popularity is fueled by backers such as Elon Musk, Mark Cuban and Snoop Dogg. Despite its quirky origins and an initial price of less than a penny, Dogecoin boasted a market capitalization of more than $19 billion in February 2022. It’s also amassed a dedicated following across social media platforms like Reddit and Twitter.
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Our work is funded by the Ethereum Foundation. We are a team of 7 people working mostly remotely from Berlin (Germany), USA, India, Canada, Nigeria. Please reach out to our gitter channel to ask us anything. We are passionate about our work and we love blockchain development and are here to serve you.
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Net vol of 5% can be the start of a pump, up to 20~30% Net volume is all the buys against the sells, indicating which way the market pressure is (+ is buys, BNB - is sells) Watch coins for warnings, and then see if the volume is increasing.
In the span of roughly a month, Dogecoin’s price declined roughly 25%. The drop was similar to declines for Bitcoin
and many other coins. Dogecoin’s price tends to move in concert with other cryptocurrencies. That’s what happened in early 2022, when worries that the Federal Reserve would hike short-term interest rates sent cryptocurrencies tumbling across the board.
As we mentioned earlier, Dogecoin and all cryptocurrencies for that matter operate in an irrational market, whereby price action is largely driven by speculation and hype. However, trying to time the markets – let alone in the crypto space, is not an easy task. And as such, it might be best to dollar-cost average your Dogecoin purchases rather than attempting to time the market correctly.
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