Bitcoin Forecast – August 2024

Aug 1, 2024   ·  3 min read

My final post in a playful series to forecast the daily Bitcoin price (USD) over the next month. You can continue to see reporting like this by subscribing to my newsletter.

Disclaimer: This is not a recommendation to invest in Bitcoin. I am not a financial advisor, and any actions you might take based on information presented in this article are done so at your own risk. Bitcoin is still considered by many as a speculative asset. As with any investment, DO NOT invest more than you are willing to lose.

For more details, please visit the first post of this series.  You can also learn more from my article on Bitcoin.

Forecast

“All models are wrong, but some are useful.”
- George Box (British Statistician)

The forecast's data can be found here.

Last Month's Results

Error Rate*

9.94%

Missed Opportunity?**

Yes

Ongoing Gain/Loss***

+29.7%

*Mean Absolute Percent Error

**If we followed the forecast, did we miss an opportunity to improve our position?

***The ongoing gain/loss from (1) an initial investment in March 2024 and (2) an ongoing trading strategy informed by each monthly forecast's intel on whether to sell or buy/hold the current position at the start of each new forecast

Ongoing Reporting

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