A Study of Opinion Mining and Data Mining Techniques to Analyse the Cryptocurrency Market

Abstract

The value of various Cryptocurrencies such as Bitcoin, Litecoin, Ethereum are always elusive. Hence, it would be a great value addition to investors if a model is able to predict what would be the nature of the crypto market for the next day. Through this paper, a time-series model using Long Short-Term Memory Networks is built to determine the value of cryptocurrency in the future. As a study, three cryptocurrencies – Bitcoin, Litecoin and Ethereum has been taken into consideration. A comparison of the results by using opinion mining to interpret the mood of the market on the current day for different currencies has been done. The sentiment scores got from natural language processing of textual data are used as features to the model used for predictions. The time-series charts are plotted using Plotly – python library for graphing plots. The Mean Absolute Error calculated between the actual and predicted values is used as the uncertainty quantification method. These uncertainty quantification methods are compared to analyze the present-day scenario of the market using opinion mining.