Predicting the Price of Steem and EOS using R Script - Steemit Business Intelligence
Today I decided to use Power BI with R Script to try and predict the price of Steem and EOS at the 31 Aug.
The thing is I don’t know R Script, so I need to rely on the fact that Power BI is a self-service business intelligence tool. Self-service meaning I shouldn’t need any programming knowledge.
There is a suite of Custom Visuals, some created by developers and some created by Microsoft, that run on R Script. In essence, all I have to do is install R and the custom visual and then fire up my data in Power BI.
Steem Prediction
To gather initial data, I connected Power BI to the web page https://coinmarketcap.com/currencies/steem/historical-data/ and pulled in the closing price and dates from the 1 Jan 2017. Then with the click of a button I added my Forcasting R Script visual, set the forecast period to the 31 Aug and here are the results I got
I am predicting a closing price of Steem on the 31 Aug to be $1.36. Our ‘too the moon price’ will be $3.57 assuming a break out and rally. However on the opposite side there is also the possibility that the price of Steem could sink to $0.39
Obviously these price predictions are working on an algorithm based on previous daily closing prices and do not factor volume or other market factors.
EOS Prediction
Using the same custom visual I decided to also have a look at EOS. This is a new coin so there are a lot fewer data points to be analysed in the algorithm.
Unfortunatlly the outlook isn’t so good. I am predicting a closing price of EOS on the 31 Aug to be $1.31. There is a to the moon price of $1.70 but EOS could also crash down to $0.99
By no means in this financial advice. This analysis was prepared for a bit of fun. In fact to be honest, my knowledge of Cyrpto currencies and blockchain is limited to the Analysis I have prepared here on Steemit.
This is original Steemit Content
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just to clarify what you've presented here from a trading standpoint, it's a probability curve based on historical volatility. It's often used to get a rough idea of the expected trading range over time for options-related strategies.
This is world-class material.
I'm hooked!
You've got a true talent.
@alexpmorris thank you kindly for sharing this with me. As I always say everyday is a school day. I know nothing about technical analysis
You're rocking it!
Great job explaining.
This is extraordinary!
Amazing effort.
Keep sharing such content.
This is absolutely epic!
Awesome!
Thank you for sharing this.
You've exceeded my expectations.
This is truly exceptional.
You've got a bright future ahead.
Nice charts! Where can I find your R code? Is it on github?
lol this is not my R code. I use power bi and this is a custom R visual that I have downloaded. I know nothing about R.....
EOS is in route to $2500.00 USD after ICO
Incredible, once again. Even stabilizing around 1.36 - 1.40 would be nice. The recent up/down cycles are frustrating.
I still hope Steem price will be over $4 this year :D
Another great post Paula. TA aside, I'm betting STEEM is going to over $2 and here's why.
As I mentioned in my Tech Thursdays post, usage is key. Both of those new platforms are/will be using STEEM. More usage = more demand.
Toss in the fact that Crypto is big news in the mainstream finance world and you've got lots more investors coming in looking to invest. More demand. Those investors will be looking for platforms with fundamentals and the two reasons above, plus Steemit would make STEEM a very nice coin to invest in. Oh, and the prices of STEEM is cheap atm.
It won't be going anywhere near 0.39 unless of course there is some unforeseen catastrophe, like bots running amok stealing from the rewards pool ;).
I'm so impressed!
Absolutely amazing.
You make it look easy!
You've done your homework.
You've got serious talent.
This is impressive stuff.
You've got skills to envy.
Well done!
This is absolutely epic!
Bought an Ether worth of Steem about an hour ago, not liking the sound of $.39 but we shall see!
Power BI ... R Script... hmmm, i'll share with you what I use :
love it
haha as long as it works for you :)
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STOPwonderful,though I know its just for fun, steem was predicted to have a year ending price of $4, I wonder where that went to. . . . .