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What is forecasting & how does it work?

Forecasting is a technique that uses historical data as inputs to make informed estimates that are predictive in determining the direction of future trends. Businesses utilize forecasting to determine how to allocate their budgets or plan for anticipated expenses for an upcoming period of time.

How do businesses use forecasts and projections?

Businesses use forecasts and projections to inform managerial decisions and capital allocations. Analysts use forecasts to estimate corporate earnings for subsequent periods. Economists may make more macro-level forecasts as well, such as predicting GDP growth or changes to employment.

What are the different types of forecasting methods?

In general, forecasting can be approached using qualitative techniques or quantitative ones. Quantitative methods of forecasting exclude expert opinions and utilize statistical data based on quantitative information.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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