FORECASTING BITCOIN PRICES WITH THE ANFIS MODEL

Abstract

Recently, Bitcoin has gained great importance in the cryptocurrency market with the highest market capitalization. Investors and researchers have attempted to find out the drivers of Bitcoin prices and if they are predictable. However, there is only limited research in the literature that identifies the most effective economic and technical variables for predicting Bitcoin prices using machine learning models. Thus, in this study, the future Bitcoin prices utilizing several economic and technical factors using the ANFIS model are aimed to forecasted between 01.05.2013 - 26.02.2021 periods. The findings show that the ANFIS model produced accurate and consistent predicting results that are in line with the real data. As a result, investors who wish to make a profit by predicting future Bitcoin values might consider using the ANFIS approach as a forecasting tool.