Cryptocurrency-Analysis

With the advent of blockchain technology, cryptocurrencies have gained a lot of importance in today’s digital
world. As cryptocurrencies have direct and indirect effects on multiple domains, we present statistical analysis
to validate the same. These effects being bi-directional and volatile, the analysis becomes intriguing as well as
challenging.

We performed analysis on following areas:

General Analysis

• We applied Parametric inference of the cryptocurrency data set to get an idea of the distribution.
• We applied Time-Series analysis for the prices of different cryptocurrencies.

Impact of Google Search Trends

• We studied how Google Searches affected Cryptocurrency prices using Linear Regression.
• Wald’s test and KS test.
• We also applied Multiple Linear Regression to find out which feature of cryptocurrencies was most influenced by the Google Searches.

Impact on financial sector

• We studied how companies producing hardware for mining cryptocurrencies performed with bitcoin prices.
• We applied Multiple Linear Regression for predicting the stock values of these companies.
• We applied Simple Linear regression for the number of bitcoin investors in Greece increased after the crisis of 2015
• Permutation Test

Impact of Ransomware Attacks on Bitcoin

• Wald’s test for analyzing increase in ransomware attack with number of bitcoin trasactions
• We applied Bayesian Inference to find the posterior distribution of the data subject to new random data generated from the same distribution.

Impact of Gambling on Bitcoin

• Wald’s Test
• Permutation Test
• Simple and Multiple Linear regression

Authors

1. Aditya Yele
2. Bhushan Sonawane
3. Dhanashri Patil
4. Mihir Chakradeo
5. Nishant Borude