A Deep Learning based Model for Predicting the future prices of Bitcoin

Abstract

Bitcoin was introduced in 2009 and is the earliest cryp- tocurrency in the world. It has gained immense popularity and has attracted a huge consumer base owing to its ever-increasing market capitalization. This has led to many traders and investors being interested in knowing the future prices of these cryptocurrencies to gain profits. Researchers have contributed several works in the field of predicting the future cryptocurrency but with very low accuracy. The aim of this paper is to propose a bitcoin price prediction model which will help predict the future prices of bitcoin. Different deep-learning models are involved in the proposed prediction model namely Gated Recurrent Unit(GRU), Long Short-Term Memory(LSTM), Bidirectional GRU (BiGRU) and Bidirectional LSTM (BiLSTM). The performance analysis of the different models shows that BiGRU is able to predict the future bitcoin prices with the lowest Mean Absolute Error Percentage(MAPE) score of 3.41