Hafid, A.; Senhaji Hafid, A.; Makrakis, D. Bitcoin Price Prediction using Machine Learning and Technical Indicators. Preprints2022, 2022120188. https://doi.org/10.20944/preprints202212.0188.v1
APA Style
Hafid, A., Senhaji Hafid, A., & Makrakis, D. (2022). Bitcoin Price Prediction using Machine Learning and Technical Indicators. Preprints. https://doi.org/10.20944/preprints202212.0188.v1
Chicago/Turabian Style
Hafid, A., Abdelhakim Senhaji Hafid and Dimitrios Makrakis. 2022 "Bitcoin Price Prediction using Machine Learning and Technical Indicators" Preprints. https://doi.org/10.20944/preprints202212.0188.v1
Abstract
With the rise of Blockchain technology, the cryptocurrency market has been gaining significant interest. In particular, the number of cryptocurrency traders and the market capitalization have grown tremendously. However, predicting cryptocurrency price is very challenging and difficult due to the high price volatility. In this paper, we propose a classification machine learning approach in order to predict the direction of the market (i.e., if the market is going up or down). We identify key features such as Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) to feed the machine learning model. We illustrate our approach through the analysis of Bitcoin close price. We evaluate the proposed approach via different simulations. Particularly, we provide a backtesting strategy. The evaluation results show that the proposed machine learning approach provides buy and sell signals with more than 86% accuracy.
Computer Science and Mathematics, Artificial Intelligence and Machine Learning
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
