MKR Price Forecast Analysis Summary
Talking about cryptocurrency, the characteristic that comes to many people’s mind is its extremely high price volatility. On some occasions, prices can shoot up more than 200% in a day due to various reasons, making it hard to predict which increases risk for investors.
While we cannot predict when such one-time events will occur, we can gain information about how the price has moved with time previously from the historical price data and make a forecast of the potential range of prices it could go to in the future. With this aim in mind, we will fit the daily (or even better, hourly) prices of MKR into a time series model.