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Observational analysis revealed improved investment decisions in the cryptocurrency market, indicating that BI tools enhance short-term forecasts.
The article examines the use of BI applications for analyzing and forecasting trends in the cryptocurrency market. Particular attention is paid to the development of analytical tools that enable effective evaluation of market predictors, which include fundamental and technical indicators. The main emphasis is placed on the necessity of using modern BI systems for data processing and visualization, which facilitates making informed investment decisions in the highly volatile cryptocurrency market. The work describes the main types of predictors: fundamental, such as inflation, unemployment, and legislative changes; technical, including trend and trading volume indicators; and social, related to sentiment analysis from social media and forum discussions. A detailed study of these predictors has shown that a combination of these indicators provides a more accurate assessment than using each predictor individually. The primary focus of the work is on the development of a BI application based on the «Forsight. Analytical Platform» which allows for the automated processing of raw data and the analysis of a subset of predictors. This application is integrated via API, and ETL processes are implemented. The application demonstrates capabilities for visualizing metrics and building shortterm forecasts based on aggregated data for cryptocurrencies such as Bitcoin, Ethereum, and Solana. The results obtained from using this application demonstrate its high effectiveness for monitoring the dynamics of the cryptocurrency market. This, in turn, contributes to increased accuracy in analytical conclusions and reduced investment risks for private investors.
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Ovsova et al. (2025) studied this question.
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