Bit Digital Stock Forecast - 4 Period Moving Average
| BTBT Stock | USD 2.24 0.02 0.90% |
The 4 Period Moving Average forecasted value of Bit Digital on the next trading day is expected to be 2.22 with a mean absolute deviation of 0.20 and the sum of the absolute errors of 11.55. Bit Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Bit Digital stock prices and determine the direction of Bit Digital's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Bit Digital's historical fundamentals, such as revenue growth or operating cash flow patterns. Although Bit Digital's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Bit Digital's systematic risk associated with finding meaningful patterns of Bit Digital fundamentals over time.
Check out Historical Fundamental Analysis of Bit Digital to cross-verify your projections. Bit |
Open Interest Against 2024-04-26 Bit Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast Bit Digital's spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest in Bit Digital's options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for Bit Digital stock based on available contracts left at the end of a trading day.
Please note that to derive more accurate forecasting about market movement from the current Bit Digital's open interest, investors have to compare it to Bit Digital's spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of Bit Digital is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in Bit. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
Most investors in Bit Digital cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the Bit Digital's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Bit Digital's price structures and extracts relationships that further increase the generated results' accuracy.
A four-period moving average forecast model for Bit Digital is based on an artificially constructed daily price series in which the value for a given day is replaced by the mean of that value and the values for four preceding and succeeding time periods. This model is best suited to forecast equities with high volatility. Bit Digital 4 Period Moving Average Price Forecast For the 26th of April
Given 90 days horizon, the 4 Period Moving Average forecasted value of Bit Digital on the next trading day is expected to be 2.22 with a mean absolute deviation of 0.20, mean absolute percentage error of 0.06, and the sum of the absolute errors of 11.55.Please note that although there have been many attempts to predict Bit Stock prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Bit Digital's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Bit Digital Stock Forecast Pattern
| Backtest Bit Digital | Bit Digital Price Prediction | Buy or Sell Advice |
Bit Digital Forecasted Value
In the context of forecasting Bit Digital's Stock value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. Bit Digital's downside and upside margins for the forecasting period are 0.02 and 8.90, respectively. We have considered Bit Digital's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the 4 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Bit Digital stock data series using in forecasting. Note that when a statistical model is used to represent Bit Digital stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.| AIC | Akaike Information Criteria | 109.7135 |
| Bias | Arithmetic mean of the errors | 0.0214 |
| MAD | Mean absolute deviation | 0.1992 |
| MAPE | Mean absolute percentage error | 0.079 |
| SAE | Sum of the absolute errors | 11.555 |
Predictive Modules for Bit Digital
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Bit Digital. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Bit Digital's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Other Forecasting Options for Bit Digital
For every potential investor in Bit, whether a beginner or expert, Bit Digital's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Bit Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Bit. Basic forecasting techniques help filter out the noise by identifying Bit Digital's price trends.Bit Digital Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Bit Digital stock to make a market-neutral strategy. Peer analysis of Bit Digital could also be used in its relative valuation, which is a method of valuing Bit Digital by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Bit Digital Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Bit Digital's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Bit Digital's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Bit Digital Market Strength Events
Market strength indicators help investors to evaluate how Bit Digital stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Bit Digital shares will generate the highest return on investment. By undertsting and applying Bit Digital stock market strength indicators, traders can identify Bit Digital entry and exit signals to maximize returns.
Bit Digital Risk Indicators
The analysis of Bit Digital's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Bit Digital's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting bit stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 5.14 | |||
| Semi Deviation | 5.2 | |||
| Standard Deviation | 6.62 | |||
| Variance | 43.88 | |||
| Downside Variance | 28.52 | |||
| Semi Variance | 27.04 | |||
| Expected Short fall | (6.54) |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Bit Digital Implied Volatility | 192.8 |
Bit Digital's implied volatility exposes the market's sentiment of Bit Digital stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Bit Digital's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Bit Digital stock will not fluctuate a lot when Bit Digital's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Bit Digital in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Bit Digital's short interest history, or implied volatility extrapolated from Bit Digital options trading.
Pair Trading with Bit Digital
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Bit Digital position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Bit Digital will appreciate offsetting losses from the drop in the long position's value.Moving together with Bit Stock
| 0.74 | G | Genpact Limited Financial Report 8th of May 2024 | PairCorr |
Moving against Bit Stock
| 0.57 | MU | Micron Technology Financial Report 26th of June 2024 | PairCorr |
| 0.56 | CHRD | Chord Energy Corp Earnings Call This Week | PairCorr |
| 0.43 | GB | Global Blue Group | PairCorr |
The ability to find closely correlated positions to Bit Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bit Digital when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bit Digital - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bit Digital to buy it.
The correlation of Bit Digital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bit Digital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bit Digital moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Bit Digital can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Historical Fundamental Analysis of Bit Digital to cross-verify your projections. For more information on how to buy Bit Stock please use our How to Invest in Bit Digital guide.Note that the Bit Digital information on this page should be used as a complementary analysis to other Bit Digital's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Complementary Tools for Bit Stock analysis
When running Bit Digital's price analysis, check to measure Bit Digital's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bit Digital is operating at the current time. Most of Bit Digital's value examination focuses on studying past and present price action to predict the probability of Bit Digital's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bit Digital's price. Additionally, you may evaluate how the addition of Bit Digital to your portfolios can decrease your overall portfolio volatility.
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| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
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Is Bit Digital's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Bit Digital. If investors know Bit will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Bit Digital listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.16) | Revenue Per Share 0.513 | Quarterly Revenue Growth 1.064 | Return On Assets (0.12) | Return On Equity (0.11) |
The market value of Bit Digital is measured differently than its book value, which is the value of Bit that is recorded on the company's balance sheet. Investors also form their own opinion of Bit Digital's value that differs from its market value or its book value, called intrinsic value, which is Bit Digital's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Bit Digital's market value can be influenced by many factors that don't directly affect Bit Digital's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Bit Digital's value and its price as these two are different measures arrived at by different means. Investors typically determine if Bit Digital is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bit Digital's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.