Estimation and Prediction of Bitcoin by Applying Machine Learning

Abstract

Investors and traders are interested in Bitcoin a lot in today’s time. Bitcoin is very powerful when it comes to the cryptocurrency market. Now people are making a huge profit from online trading, investing their money in Bitcoin. The price of the Bitcoin varies from time to time. It depends on the current/present situation of the market. So, investors and traders need to be familiar with the ongoing and upcoming trends of the Bitcoin price so that they all can make a profit easily and chances of getting a loss should be minimal. So, for that, we can use certain algorithms to predict the price of Bitcoin. Machine Learning and Deep Learning play a very important role in this since with the help of this first we can train the machine with the ongoing records and then apply the algorithms so that it can predict the price of the Bitcoin. For that we have used a few Algorithms like Logistic Regression, LSTM (Long Short-Term Memory), and RNN (Recurrent Neural Network) these algorithms reduce the challenges and capture the Non-Linear patterns and the Volatility in the Bitcoin price. These algorithms cover most of the challenges and provide us the more accurate results. It also improves the availability of a variety of Data. These methods learn from past data and quickly capture the current data and situation and then predict accordingly.