Bitcoin Price Prediction using Machine Learning

Abstract for Bitcoin Price Prediction:

The increasing popularity of cryptocurrencies has made predicting their prices an important area of research. The volatility and complexity of Bitcoin make it a challenging task to accurately predict its price. While past research has implemented machine learning to enhance the precision of Bitcoin price prediction, limited attention has been given to examining the viability of employing diverse modeling techniques to datasets with varying data structures and dimensional attributes.

In order to forecast Bitcoin prices using machine learning techniques at different intervals, this study initiates by categorizing Bitcoin prices into daily prices and high-frequency prices. This project aims to predict the price of Bitcoin using machine learning techniques, specifically the Random Forest Classifier algorithm. The dataset used for this project consists of historical Bitcoin price data from July 2010 to May 2023. The data was preprocessed and feature engineering was performed to extract relevant features for the model.

The Random Forest Classifier algorithm was used to predict the price of Bitcoin based on the input features. The algorithm was trained on the preprocessed data and hyperparameter tuning was performed to optimize the model performance. Moreover, as an extension to our work, we have created a simulation dashboard utilizing Flask, a popular web framework model. This dashboard enables users to evaluate various machine learning algorithms to assess their performance in predicting Bitcoin prices.

With this platform, researchers and traders alike can explore and compare the accuracy and effectiveness of different models in different scenarios, thereby enhancing their understanding and decision-making capabilities within the cryptocurrency market. The results of the project show that the Random Forest Classifier algorithm achieved 99% accuracy in predicting the price of Bitcoin. This high level of accuracy demonstrates the effectiveness of machine learning techniques in predicting the price of Bitcoin.

PROJECT (Bitcoin Price Prediction) OUTPUT VIDEO:

ALGORITHM / MODEL USED for Bitcoin Price Prediction:

Random Forest Classifier.

SYSTEM REQUIREMENTS:

HARDWARE REQUIREMENTS:

System : Pentium i3 Processor.
Hard Disk : 500 GB.
Monitor : 15’’ LED
Input Devices : Keyboard, Mouse
Ram : 4 GB

SOFTWARE REQUIREMENTS:

Operating system : Windows 10 / 11.
Coding Language : Python 3.8.
Web Framework : Flask.
Frontend : HTML, CSS, JavaScript.

Python Projects

Bitcoin Price Prediction using Machine Learning