Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)

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How Machine Learning Methods Unravel the Mystery of Bitcoin Price Predictions

Authors
Shuo Qian1, *, Yinglai Qi2
1Physical Science Division-Financial Mathematics The University of Chicago, Chicago, USA
2Mathematics and Statistics McGill University, Montreal, Canada
*Corresponding author. Email: qianshuo@uchicago.edu
Corresponding Author
Shuo Qian
Available Online 29 December 2022.
DOI
10.2991/978-94-6463-042-8_56How to use a DOI?
Keywords
Neural Networks; Price Predicitons; Bitcoin; Price Predicitons
Abstract

Machine learning has a wide range of applications to meet the complexity of data and various expectations for prediction types. In this study, a comprehensive review of various machine learning approaches for Bitcoin price prediction will be proposed. After examining previous research on cryptocurrency prediction using Long-Short Term Memory (LSTM), Multi-layer Perceptions (MLP), and Support Vector Machine (SVM), with the focus on LSTM, it can be found that LSTM is a widely employed method in Bitcoin price prediction because of its advantages in incorporating both long-term and short-term dependencies. This paper reviews a series of research papers by comparing the differences between the methods they implemented, to a limited extent, based on their predictive power, replicability, and model limitations. Furthermore, some potential improvements and explored innovations for future studies also be discussed.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)
Series
Advances in Computer Science Research
Publication Date
29 December 2022
ISBN
10.2991/978-94-6463-042-8_56
ISSN
2352-538X
DOI
10.2991/978-94-6463-042-8_56How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Shuo Qian
AU  - Yinglai Qi
PY  - 2022
DA  - 2022/12/29
TI  - How Machine Learning Methods Unravel the Mystery of Bitcoin Price Predictions
BT  - Proceedings of the 2022 International Conference on mathematical statistics and economic analysis (MSEA 2022)
PB  - Atlantis Press
SP  - 381
EP  - 389
SN  - 2352-538X
UR  - https://doi.org/10.2991/978-94-6463-042-8_56
DO  - 10.2991/978-94-6463-042-8_56
ID  - Qian2022
ER  -