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Predicting Bitcoin Price Using Machine Learning

Bitcoin price prediction is important for understanding investment risk and potential profit or loss. This document aims to predict Bitcoin prices using machine learning techniques like studying historical trends, existing forecasting methods, Bayesian statistics with Markov Chains and Recurrent Neural Networks applied to past price data. The forecasted prices would help investors understand the risks and potential returns of investing in Bitcoin.

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39 views

Predicting Bitcoin Price Using Machine Learning

Bitcoin price prediction is important for understanding investment risk and potential profit or loss. This document aims to predict Bitcoin prices using machine learning techniques like studying historical trends, existing forecasting methods, Bayesian statistics with Markov Chains and Recurrent Neural Networks applied to past price data. The forecasted prices would help investors understand the risks and potential returns of investing in Bitcoin.

Uploaded by

Trance
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Predicting Bitcoin Price Using Machine Learning

Bitcoin is one of the revolutionary cryptocurrencies in the market today. Even though it was silent all
along in the marketing world, it caught the eye of the entire world in the past few weeks by defying
every forecasting algorithm ever made for it. Today, as of Nov 17 2020, it stands at a market value of
17,642.40. Most of the online merchants have started recognizing it as a form of currency. Since then it
has become kind of a stock market where people invest to generate profits.

In this thesis, I will focus on predicting the price of Bitcoin prices from based on historical price data by
studying trends in the form of both seasonal and general trends, existing forecasting methods, Bayesian
statistics using Markov Chains and Recurring Neural Networks. The forecasted prices would help you
understand the risk factor involved in investing in the bitcoins and the possibility of having a profit or
loss in it.

Forecasting the value of bitcoin as forecasting the flow of stock market. Over the years many algorithms
have been developed for forecasting stock markets, but very few have focused on bitcoin price
prediction.

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