Sarbeswara Hota
Siksha ‘O’ Anusandhan Deemed to be University

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Performance analysis of bitcoin forecasting using deep learning techniques Nrusingha Tripathy; Sarbeswara Hota; Debahuti Mishra
Indonesian Journal of Electrical Engineering and Computer Science Vol 31, No 3: September 2023
Publisher : Institute of Advanced Engineering and Science

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.11591/ijeecs.v31.i3.pp1515-1522

Abstract

The most popular cryptocurrency used worldwide is bitcoin. Many everyday folks and investors are now investing in bitcoin. However, it becomes quite difficult to evaluate or foresee the price of bitcoin. The price of bitcoin is extremely difficult to forecast due to its swings. By this point, machine learning has developed a number of models to examine the price behaviour of bitcoin using time series data. The digital money, a different type of payment developed utilising encryption methods, is difficult to forecast. By utilising encryption technology, cryptocurrencies may act as both a medium of exchange and a virtual accounting system. To estimate the values of a future time sequence, this work introduces a deep learning-based technique for time series forecasting that treats the current data as time series and extracts the key traits of the past. To overcome the shortcomings of conventional production forecasting, three algorithms-auto-regressive integrated moving averages (ARIMA), long-short-term memory (LSTM) network, and FB-prophet-were investigated and contrasted. We compared the models using historical bitcoin data of past eight years, from 2012 to 2020. The “FB-prophet” model, which is significant, catches variation that might draw attention and avert possible problems.