Bulletin of Engineering Science, Technology and Industry
Vol. 1 No. 2 (2023): June

APPLICATION OF TRIPLE EXPONENTIAL SMOOTHING METHOD FOR PREDICTING THE PRICE MOVEMENT OF CRYPTOCURRENCY ETHEREUM

Maurizio Zanardi (Unknown)
Hizamrul Jaen (Unknown)



Article Info

Publish Date
30 Jun 2023

Abstract

An innovation that was sparked is an alternative currency to replace conventional currency, namely digital currency that is secured using a Cryptographic method called Cryptocurrency. However, Cryptocurrency prices cannot be controlled, causing massive fluctuations. Cryptocurrency price changes are very stable due to several factors such as speculation from users and the nature of the follow-up from new to one of the causes. The cause of this bandwagon is due to extreme price increases in a short time, even within a day the price of Crypto can experience a difference of millions of rupiah for each increase and decrease. To answer this question, we need a software that can predict the Rupiah exchange rate. The Mean Absolute Percentage Error (MAPE) for the Triple Exponential Smoothing implementation is 3.7249%. This method was utilized to predict the Rupiah exchange rate for Cryptocurrency, addressing the issue of price fluctuations in the Crypto market. Historical data, along with the specified parameters of 0.40 for Xt and S't, and 0.60 for Beta, were employed to generate accurate predictions. The process involved calculating first to third smoothing, determining Constants, Slopes, and Parabolics, and finally producing the Forecasting results. The MAPE value of 3.7249% indicates that the Triple Exponential Smoothing method exhibited relatively accurate predictions with a small margin of error when applied to a dataset of 50 data samples, ranging from May 2022 to June 2022.

Copyrights © 2023






Journal Info

Abbrev

go

Publisher

Subject

Civil Engineering, Building, Construction & Architecture Computer Science & IT Electrical & Electronics Engineering Engineering

Description

Bulletin of Engineering Science, Technology and Industry | ISSN: 3025-5821 is a peer-reviewed journal that publishes popular articles in the fields of Engineering, Technology and Industrial Science. This journal is published 4 times a year, namely in March, June, September and December. We invite ...