Forecasting Bitcoin Price using Artificial Neural Network

doi:10.2139/ssrn.3515702

Paper

Forecasting Bitcoin Price using Artificial Neural Network

Published Jan 8, 2020 · Dhruba Banjade

Capital Markets: Asset Pricing & Valuation eJournal

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2

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Abstract

Forecasting Bitcoin prices is a big challenge today because of difficulties to exactly know the parameters upon which the Bitcoin price depends. In this paper, I forecast the price using the artificial neural network (ANN) technique. Bitcoin market capitalization, volume, dollar to euro, dollar to pound exchange rates, gold price, and S&P 500 index does not support to predict the prices. However, the Bitcoin price lags with four inputs, ten hidden layers, and two hundred iterations provide a better result with root mean square (RMSE) equals to 10.20, and coefficient of determination (R2) equals to 0.96.

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Key takeawayThe artificial neural network technique using four inputs, ten hidden layers, and 200 iterations effectively forecasts Bitcoin prices with a root mean square of 10.20 and coefficient of determination of 0.96.

PopulationOlder adults (50-71 years)

Sample size24

MethodsObservational

OutcomesBody Mass Index projections

ResultsSocial networks mitigate obesity in older groups.

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Forecasting Bitcoin Price using Artificial Neural Network

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