Accurate Bitcoin Price Prediction Using Machine Learning

Abstract

Abstract The Bitcoin has recently garnered significant media and public attention due to its dramatic price increases and declines. As a result, many researchers have examined the various factors influencing Bitcoin’s price and the patterns behind its fluctuations, often using machine learning techniques. This study explores several machine learning algorithms for Bitcoin price prediction, including logistic regression and long short-term memory (LSTM) models. While LSTM-based models have shown superior performance in predicting Bitcoin prices (regression), this research provides a detailed investigation into Bitcoin’s evolution and a comprehensive review of the machine learning methods used for price prediction. Additionally, the study includes a Bitcoin price prediction model, which is developed using specific algorithms to forecast Bitcoin’s price, along with insights into the factors affecting its price movements. The proposed LSTM model has achieved 98% accuracy.