Investigation on Bitcoin Prognosis

Abstract

Bitcoin, the ruler of cryptocurrency plays an important role in blockchain technology. Every transaction stored in blockchain costs certain amount of bitcoins. The price fluctuation of bitcoins are very unstable and doesn't depend on any business or marketing strategies which builds both interest and fear in the minds of traders. By predicting the bitcoin price it is possible that users can analyze and invest in bitcoin which improves the utilization of digital money. So it is necessary to develop a prediction model with high prediction rate. This work focuses on implementing various machine learning models to predict the price of bitcoin. These machine learning models are evaluated using error percentage from which the best model for predicting bitcoin value is suggested. From the results it is evident that, among the state of the art ML algorithms, LSTM is found to be the best.