作者
Nrusingha Tripathy, Subrat Kumar Nayak, Sashikanta Prusty
发表日期
2024/5/28
期刊
Frontiers in Blockchain
卷号
7
页码范围
1346410
出版商
Frontiers Media SA
简介
These days, there is a lot of demand for cryptocurrencies, and investors are essentially investing in them. The fact that there are already over 6,000 cryptocurrencies in use worldwide because of this, investors with regular incomes put money into promising cryptocurrencies that have low market values. Accurate pricing forecasting is necessary to build profitable trading strategies because of the unique characteristics and volatility of cryptocurrencies. For consistent forecasting accuracy in an unknown price range, a variation point detection technique is employed. Due to its bidirectional nature, a Bi-LSTM appropriate for recording long-term dependencies in data that is sequential. Accurate forecasting in the cryptocurrency space depends on identifying these connections, since values are subject to change over time due to a variety of causes. In this work, we employ four deep learning-based models that are LSTM, FB-Prophet, LSTM-GRU and Bidirectional-LSTM(Bi-LSTM) and these four models are compared with Silverkite. Silverkite is the main algorithm of the Python library Graykite by LinkedIn. Using historical bitcoin data from 2012 to 2021, we utilized to analyse the models’ mean absolute error (MAE) and root mean square error (RMSE). The Bi-LSTM model performs better than others, with a mean absolute error (MAE) of 0.633 and a root mean square error (RMSE) of 0.815. The conclusion has significant ramifications for bitcoin investors and industry experts.
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