A primer on time series
The collection of observations mentioned by Professor Gil-Alaña forms a sequence of events that unfold and evolve over time in chronological order.
These observations represent various data points that change or fluctuate over time, such as stock prices, temperature readings, sales figures, website traffic, number of blockchain transactions, and more. Each observation holds valuable knowledge about the past and provides information about future trends.
A 10-month time series representing the monthly closing price of Bitcoin-US Dollar (BTC-USD) looks like this:
Date |
Close |
10/1/2014 |
338.321014 |
11/1/2014 |
378.046997 |