Data Science: Journal of Computing and Applied Informatics
Vol. 7 No. 2 (2023): Data Science: Journal of Computing and Applied Informatics (JoCAI)

Time Series Prediction of Bitcoin Cryptocurrency Price Based on Machine Learning Approach

Eddie Ngai (Unknown)
Abdullah, Salwani (Unknown)
Nazri, Mohd Zakree Ahmad (Unknown)
Sani, Nor Samsiah (Unknown)
Othman, Zalinda (Unknown)



Article Info

Publish Date
31 Jul 2023

Abstract

Over the past few years, Bitcoin has attracted the attention of numerous parties, ranging from academic researchers to institutional investors. Bitcoin is the first and most widely used cryptocurrency to date. Due to the significant volatility of the Bitcoin price and the fact that its trading method does not require a third party, it has gained great popularity since its inception in 2009 among a wide range of individuals. Given the previous difficulties in predicting the price of cryptocurrencies, this project will be developing and implementing a time series approach-based solution prediction model using machine learning algorithms which include Support Vector Machine Regression (SVR), K-Nearest Neighbor Regression (KNN), Extreme Gradient Boosting (XGBoost), and Long Short-Term Memory (LSTM) to determine the trend of bitcoin price movement, and assessing the effectiveness of the machine learning models. The data that will be used is the close prices of Bitcoin from the year 2018 up to the year 2023. The performance of the machine learning models is evaluated by comparing the results of R-squared, mean absolute error (MAE), mean squared error (RMSE), and also through a visualization graph of the original close price and predicted close price of Bitcoin in a dashboard. Among the models compared, LSTM emerged as the most accurate, followed by SVR, while XGBoost and KNN exhibited comparatively lower performance.

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Journal Info

Abbrev

JoCAI

Publisher

Subject

Computer Science & IT

Description

Data Science: Journal of Computing and Applied Informatics (JoCAI) is a peer-reviewed biannual journal (January and July) published by TALENTA Publisher and organized by Faculty of Computer Science and Information Technology, Universitas Sumatera Utara (USU) as an open access journal. It welcomes ...