Advance Detection Of Bull And Bear Phases In Cryptocurrency Markets

• URL: http://arxiv.org/abs/2411.13586v1
• Date: Mon, 18 Nov 2024 01:48:16 GMT
• Title: Advance Detection Of Bull And Bear Phases In Cryptocurrency Markets
• Authors: Rahul Arulkumaran, Suyash Kumar, Shikha Tomar, Manideep Gongalla, Harshitha,
• Abstract summary: Bitcoin has a market dominance of close to 50 percent. Bull and bear phases in cryptocurrencies are determined based on the performance of Bitcoin over the 50 Day and 200 Day Moving Averages.
• Score: 0.0
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• Abstract: Cryptocurrencies are highly volatile financial instruments with more and more new retail investors joining the scene with each passing day. Bitcoin has always proved to determine in which way the rest of the cryptocurrency market is headed towards. As of today Bitcoin has a market dominance of close to 50 percent. Bull and bear phases in cryptocurrencies are determined based on the performance of Bitcoin over the 50 Day and 200 Day Moving Averages. The aim of this paper is to foretell the performance of bitcoin in the near future by employing predictive algorithms. This predicted data will then be used to calculate the 50 Day and 200 Day Moving Averages and subsequently plotted to establish the potential bull and bear phases.

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