Abstract:
The cryptographic virtual currency, bitcoin, is considered the main originator of
cryptocurrencies that emerged due United States financial crisis in 2008. The idea was
sparked by Nakamoto by introducing an alternative currency system that really refers to
the strength of supply and demand. Based on INDODAX data, the bitcoin exchange rate
during October 2020 to February 2021 is a condition of a large increase in a short time
with a percentage increase of 450%. The increase in bitcoin prices can be modelled using
the b-spline nonparametric regression method based on order and optimal knot points
based on the smallest Generalized Cross Validation value. The resulting b-spline 4
degree and the number of knots points 5 as the best model with each bases described
recursively.
