Predicting COVID-19 impact on demand and supply of cryptocurrency using machine learning

Abstract

In the wake of recent pandemic of COVID-19, we explore its unprecedented impact on the demand and supply of cryptocurrencies’market using machine learning such as Naïve Bayes (NB), Decision Trees (C5), Decision Trees Bagging (BG), Support Vector Machine (SVM), Random Forest (RF), Multinomial Logistic Regression (MLR), Recurrent Neural Network (RNN), Long Short Term Memory and Noise Bagging (NBG). The study employed Noise filters to enhance the performance of Decision Trees Bagging named NBG. Dataset utilized for this analysis were obtained from the website of Coin Market Cap, including: Binance Coin (BCN), BitCoin Cash (BCH), BitCoin (BTC), BitCoinSV (BSV), Cardano (CDO), Chainlink (CLK), CryptoCoin (CCN), EOS (EOS), Ethereum (ETH), LiteCoin (LTC), Monero (MNO), Stellar (SLR), Tether (TTR), Tezos (TZS), XRP (XRP), and daily data collected from exchange markets platforms spans from 2nd January 2018 to 7th July 2020. Auto encoder was utilized for the labelling of the trading strategies buy-hold-sell.