2019
DOI: 10.48550/arxiv.1909.01268
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Are Bitcoins price predictable? Evidence from machine learning techniques using technical indicators

Samuel Asante Gyamerah

Abstract: The uncertainties in future Bitcoin price make it difficult to accurately predict the price of Bitcoin. Accurately predicting the price for Bitcoin is therefore important for decision-making process of investors and market players in the cryptocurrency market. Using historical data from 01/01/2012 to 16/08/2019, machine learning techniques (Generalized linear model via penalized maximum likelihood, random forest, support vector regression with linear kernel, and stacking ensemble) were used to forecast the pri… Show more

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Cited by 2 publications
(8 citation statements)
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“…The prediction of Bitcoin prices holds multifaceted significance in various domains, including finance, investment strategy formulation, risk management, and cryptocurrency market analysis. Accurate price forecasting facilitates informed decision-making for traders, investors, and financial institutions, enabling them to optimize their investment portfolios, hedge risks, and capitalize on market opportunities [5].…”
Section: A Introductionmentioning
confidence: 99%
“…The prediction of Bitcoin prices holds multifaceted significance in various domains, including finance, investment strategy formulation, risk management, and cryptocurrency market analysis. Accurate price forecasting facilitates informed decision-making for traders, investors, and financial institutions, enabling them to optimize their investment portfolios, hedge risks, and capitalize on market opportunities [5].…”
Section: A Introductionmentioning
confidence: 99%
“…Analisar séries temporais financeiras, como o preço de ativos tradicionais e criptomoedas, é extremamente desafiador devido à natureza dinâmica, não linear, não estacionária, ruidosa e caótica do mercado financeiro (Borges & Neves, 2020). Em um contexto de alta volatilidade do preço de criptomoedas, um modelo de previsão acurado e confiável é fundamental para investidores e participantes do mercado (Gyamerah, 2019).…”
Section: Lista De Figurasunclassified
“…Procedimentos de aprendizado de máquina, particularmente, são capazes de analisar grandes quantidades de dados que apresentam ruídos, dinâmicas não lineares e variantes no tempo, com o objetivo de detectar padrões e/ou prever movimentos futuros (Borges & Neves, 2020). Analogamente à predição de preços de ações e de taxas de câmbio utilizando algoritmos de aprendizado de máquina, o preço de criptomoedas também pode ser previsto utilizando tais técnicas (Gyamerah, 2019).…”
Section: Lista De Figurasunclassified
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