Bitcoin Forum

I'm an economic student and in the last 6 months I've been studying the cryptocurrency market. In my research, i wanted to understand what affects the cryptocurrencies price? and if it's possible to measure it?

The results were positive and I decided to create a tool for cryptocurrency traders that will help to improve your successful trading rates and have more confidence when buying/selling a coin.

Before I will release the tool for widely use I doing a bit more research in order to provide you guys the best trading tool out there. I made a short survey(2-3 minutes max) and your answers will help me to go further with my research & development.

The link to the survey:
https://freeonlinesurveys.com/s/uy2aOtky

I'm also looking for cryptocurrency traders with experience to try our the beta version that I'm about to release in the next few weeks.
PM if you're interested in testing my beta version.

Though your idea is cool, this is not the first time that someone proposed to do an all around trading tool that provides a better trading strategy than your conventional trading bots. Also, your survey is okay given that you like to know the common trading practices we have here since it'll help you narrow down the best possible tool you can do to help.

Wow, this is great! I can't wait to see it. How long wikl you beta test it to compare the success ofbit predictabikity drivers before releasing it for public viewing and use?

I'll take your survey. Can you share the survey results with this forum once the research is completed?

Thanks for your work!

Your survey needs to include "Other" answers and multiple responses for almost all of these questions.

It's very restrictive to see, for example "which sources do you use to make a trading decision?"  and only a few measly answers.  I use Slack channels, the coins' websites (to understand the fundamentals of the coin) and occasionally technical indicators on exchanges.  I also sometimes access exchanges from multiple browsers and I sometimes access them from the Brave browser which isn't listed there.

"How often do I trade?"  is another one which obviously needs to be less restrictive.

I don't believe in the accuracy of these forecasts. The price of bitcoin are too many factors. Bitcoin does no such levers which have Fiat currency. So nobody ever can tell when the whales want to destabilize the situation on the market.

Sounds very good idea though. But whats going to be your tool really? Is it a software or just a widget to show up the information. I don’t know how are you doing but in my additional information to your survey I would recommend you to make a software which will analyse the data from at least 10 to 15 different sources and make a standard deviation of all the data. Then it should be able to recalculate it in the simple answer so that normal people like us would be able to understand it. Will be watching this post. Trading is getting out of the hands now a days. Hope you come up with something great. :-)

You should note that trends change as events happen. Pre-scaling Bitcoin period was a bit dull and we did not see major price

shifts, but now Post-scaling we might see a whole different trend, with prices constantly going upwards as adoption increase

and merchant adoption increase. { I think will scaling Bitcoin opened the flood gates for merchant adoption }  ;D

In my own opinion, Bitcoin is a very unpredictable animal so anyone who is devising a strategy or method of rightly predicting the movement of its price should prove it in the face of Bitcoin's volatility. I am not blocking innovation but we also demand proofs before we say our nod to anything or anyone. Good luck to OP, anyway and I am hoping he can be able to really deliver according to his promise here.

There is no way to predict the price, so many people have created models and they never work over a long period of time.

Many people have tried to forecast the price, but it seems very hard to do, hopefully you can conquer this and actually find a way to predict the price with accurate, good luck friend. ;)

I don't believe there are tools or method to predict the bitcoin price. You can make some estimations based on history, charts and analysis but this is just a possible direction that price could move but not how it exactly will look like. That is impossible, although many would like to know how the price will be so then there will be no losses anymore for them, just profit.

ok, i am going to go ahead and save you some wasted time. social media has the least effect on bitcoin price, period.
it is effective, we can not deny it but in the end even if you remove it all the crap on it the price will be the same place as it was with all the stuff on social media.

you see when people talk about it on reddit, twitter, facebook,... it is good and may get some people interested in buying or opposite to make some people to sell. but in total their effect is negated by the big market.

what you see is an opposite thing. meaning when price goes up they start hyping it. and when it drops they start FUDing it. not the other way around.

OMG.  You're an economics student?  Bro, if there was a tool that could predict
prices, before long that tool would be useless.   Efficient market hypothesis.  And
I'm not even a student of econ, finance or business.  I'm not only skeptical,  I'm
damn sure your thing isn't going to work.  Don't mean to be mean, but plenty of
otherwise bright people have been trying to design perpetual motion machines for
centuries too.  Just won't work.

LOL, i second this post. I do not believe that anyone can predict the price of Bitcoin or stocks  since there are to many factors. Even the best economist will not able to predict the price 100%.
When i was new to trading I have been to seminars and geniuses that they will bluntly say that they can predict the price and will self proclaim as a guru of trading but often they are just like us sometime they are correct and sometimes they are wrong. If there is a perfect way to predict the price of any trading platform, it would be a time machine.

Hope so you come up With some good tool which actually can make a difference and help all the people to identify how the market may move and accordingly buy and sell thier coins . Will watch this thread once the tool is up can functioning.

wow, I hope I can learn it too. it is difficult but hope it can help each other.

I will be interesting in testing the trading tools you are developing and hope it meet up with my expectations . I will also vote for your survey and wish you the best. However one thing that I have find out that is affecting the market is rumors and news and hope you put all those into consideration.

Your project is good I just participated in your survey questionnaire Hope you can make it more accurate analysis and forecast Im always looking for this kind of tool  a big help traders if proven effective btw Im interested testing in your beta release soon.

let say you're an economist student or a teacher,
and what is the relation between 'economy' and 'cryptocurrency' ?
while some peoples/groups/organizations can manipulate the price when we do the trade ?
what will happen if they have 5%(approximately,i think they have more than that) total supply ?
can you meassure it ? what will they do,when will it be ?
'cryptocurrency' and other stocks are different,you can not compare it in any way.
which mean you can not 'read' it fully,and now you said you 'found' the way to 'predict' it.
if you have a magic crystal,you may be can do that.
but you're not,and you're not the only one that claim that thing to be honest.

be realistic man,grow up

yes it is not so easy to findd such tools which can give you accurate measurement and prediction about the altcoins. because if it was possible then years before people were found such ways, but very honestly i would like to say that it is not possible to predict the price of bitcoin or any other alt coin 100% correct. i think we can only get some clues through studying the market and getting the opinion of the expert people

Have filled the survey questions, and you may find a way to predict bitcoin price based on current situation on the market which driven by some hot news around. Whether it will work or not, we will find out after the tool released. Although it will hard to predict bitcoin price due to some factors, especially traders and big whales manipulators which encourage people to sell-off.

Summit your tool for traders to review it, you can password it and include expiring date, this will enable users (traders) to test it in real live trading, then whatever bug or shortcomings of your tool can be amended or reassessed, of course your aim is to monetize it but without testing how will traders patronize your tool?

Yes, this project will be a great revolution in the world of international market and it will no doubt help a lot to all the traders in making more accurate decisions. If this tool performs the desired task with well accuracy, then I think making money from bitcoin will hardly remain any issue for all those who are now suffering in the world of trading. We need to hope for the best.

I was done doing survey and hope that you can give us a good tools for trading build trading bots and alert apps for phone this is what i am looking for a complete tool for trading purposes.  if there are some tools you already have hope that we can use your tools for easy trading..

There would be no perfect accuracy on bitcoin market which is somehow this proposal would be senseless at all but worth  it to try off. Finding ways on how to predict btc price is not possible and as you said we cant ever tell when those big players would do such moves but still i would take up the survey and lets see how this thing works.

Sorry to burst you bubble dude but this is what made Bitcoin so unique, its unpredictable. Who would have thought that bitcoin price will be affected with fake news? If a whale woke up on a wrong side of the bed he might say to him self, time to mess up someones dream today and sell a lot of Bitcoins to cause panic, but may vary if the market will follow. So no crystal ball or any tool can predict the price of BTC.

What you are describing is impossible to do, you could create a bot that is able to apply the latest techniques when it comes to trading, but how the bot is going to know by looking at the charts that China released another FUD and the price is tanking because of that, a tool that could generate profits is possible but a tool that predicts the totality of bitcoin movements is impossible.

There is no way to predict the price exactly, but it can be a helpful tool to us.
Good luck

Your suggestion is merely impossible because no one could really predict the price of bitcoin since your bot doesn't have any emotions to control something it will not gonna be useful when there's FUDing in the price. Your bot can't read the brain of any individuals who had bitcoins in their hands whether they wanted to sell it or not. Everything could affect the price, the fork, fud, whales, speculations, anything who had a bitcoin. You may want to try it though but still at the end you will know what's missing in your puzzle. Anyway, thanks for the thought i gladly appreciated it.  :)

Another way could be to create an account in which the bot does his trades an show the results to us but I do not think the market is very favorable for any bot, many of the reasons for the change in price have nothing to do with charts and everything to do with rumors and expected forks in that scenario I cannot imagine a single bot performing well enough to make money.

I think even the best trained computers really can not predict any future accurately. Hmm but these results are interesting!

Although it is a great idea and not the first time I have seen this idea on forum, but still I am curious that what would be the background mechanism or logic or algorithm your program/tool will be based on, because the market is highly volatile and even the experienced people in this market are never sure about their predictions. BTW i would like to try it in future and see if it helps.

Really? You have great mindset if that are true you are really love mathematics just like Trial and error. Lol. Haha. Just like some they are saying that their are many like you try to predict. Very good at least you tried your best.

This is a survey earning pass from the OP. Kindly ignore cloud, survey, captcha and faucet suggestions in the forum. In mining there are many people making dashboard to monitor the mining network pools. You can use this concept and make the link line from the source site to check the price chart frequently.
If you have Brave browser you can plug in the price chart moves add ons in that browser. Last week also I have read Browsers like Chrome, safari and mozilla gonna enable the bitcoin based plug in. Volatility should measure all the time that is why tool suggestion here bro.

This not the first time someone like proposed this, this amazing and I'm so amazed to those who tried. Well today btc are getting higher each day and we know about that btc price is stable this month. So, it is not hard to predict that bitcoin will reach approximately $5000 and it's easy to know that it will getting higher because of it's stable status and bitcoin is has a great potential because of the btc status today.