GeorgeJohn
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December 11, 2021, 10:10:53 PM |
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what I'm trying to say is that no matter how many videos you watch, it doesn't make someone an expert, the best thing that it can ever do is pique your curiosity and make someone pursue to learn more in depth knowledge.
But watching what you don't know from video and make a frequent practice on them can equally make someone perfect at some instances, because i a friend of mine doesn't know what is trading in the year 2015, but from the year 2017 he started using internet to inquire for online trading tutorial, only one year practice of this trading through YouTube videos it's now a master in trading industrial, i think i refute such concept that watching a YouTube video will not make someone perfect. Even manual lectures too can't make someone perfect, the only thing that's involve is concentration.
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Slow death
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December 11, 2021, 10:13:57 PM |
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I think there are some things we need to take into account, when someone does technical analysis that person can have a chance to predict the price but it only works if it's a short amount of time like a 4h or daily or week chart; but it is very difficult to predict with precision, if there are people who do technical analysis then it is not possible to have Machine Learning that does this service better, Has anyone seen any Machine Learning in action doing price forecast?
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Yamifoud
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December 11, 2021, 10:46:12 PM |
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I've watched a lot of YouTube videos and read a lot of articles that claim that you can predict the Bitcoin price with Machine Learning and artificial intelligence like using some algorithm. Truth be told it is both intriguing and almost at the same time confusing. Personally, I don't think any ML or AI tech can make any price prediction now because we have a lot of whale manipulation (because the market size is smaller than any other market). Well, while I may be wrong I would like to know what you think. Have you ever gotten a satoshi richer by following the prediction of an algorithm?
These machines are programmed to make predictions, then it's possible they could make it but the question is if that is realistic? I don't think how reliable it was, we know these machines are not too good compared to the human brain and we know that nobody was able to predict the right/exact price of Bitcoin, so how much more for these machines? Or maybe, we need to buy and use one of these AI/machine learning in order to evaluate its performance. This is gonna be the best solution and to prove something, I think.
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sheenshane
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December 11, 2021, 10:59:36 PM |
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Or maybe, we need to buy and use one of these AI/machine learning in order to evaluate its performance. This is gonna be the best solution and to prove something, I think.
It's useless and it could be wasting your time and money, there's no such way to predict the future price of Bitcoin. But one thing all we know is that Bitcoin price was always ended at a high price. Even though this machine has an AI algorithm system that can able to predict but I think it isn't accurate. What kind of machine it is? If so, there could be a chance it will use in an automated trading bot, and this may be the perfect tool in trading. But yes, for sure the performance doesn't have a guarantee that it has an accurate result.
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bhooscream
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December 11, 2021, 11:19:54 PM |
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If this is about truly 100% true, exactly no. If it is true exactly, there may be not really high diffefence of the rate. Additionally, prediction is a prediction in which it may happen in exact time, in some time, or never also happen. But at least commonly the tool will help us to predict the quite true rate at certain time based on the resistant, time framework, and also other indicators. So it will not be far away from what rate we have predicted.
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franky1
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December 12, 2021, 05:02:47 AM |
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AI's problem is not about churning through data to find patterns.. its problem is the source of that data and amount of data it can get to churn through if its not got much data to rely on, its not going to be very good at finding patterns
current bitcoin price is not about the ~19mill coins in circulation its not about the number of coins deposited on exchanges. or the fiat deposited, just sat as unused balance. its about the number of coins on a market order book, aswell as the amount of fiat on a market order book
but if you dont know how much coin/fiat is deposited ready to make an order along with the numbers of coin/fiat already on the market order book. then it becomes harder to 'predict' whats available to change in the near future.
EG if you cant access each exchanges bank deposit totals and coin store totals. you cant work out if there is masses of dollar waiting to order a small amount of coin on offer. or the opposite.
so although the market order book of most exchanges is public. and looking at the volume of each side can reveal something. without the extra data of what balance the exchanges is holding in total off the order book, predicting the next movement in direction cant be worked out to any accuracy
but with data about unused balances not yet on orderbook. it can help make predictions more accurate.
with more data like exchange customer online behaviour. EG time between depositing to making an order. how often they order. can help add more to the picture.. as it helps get more finer detail on demand timing but this data has to be available to then be able to be used by AI
AI is only as good as the data it has available to sort through
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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famososMuertos
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December 12, 2021, 06:17:20 AM |
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The fact that something like this could exist today will only be an indication that it enters to compete with other predictions based on traditional data because what would make it effective is not that you get the price right once, if not That it does it at the exact frequency at each moment and each instant, if that machine is capable of doing that, we would be in the presence of a quantum machine or describe it however you want, but such a thing is not possible today in the capacity to be exact.
The predictions in the financial markets are not defined only in the historical result or the comparative of the existing data, the "future" variable that depends on the individuals-companies that invest or withdraw money from the bitcoin environment is unpredictable, then although that unpredictable data can correct it at certain times based on the existing data, it has a degree of entropy so difficult to calculate that the AI not could be close most of the time. In consecuense it would never be able to accurately predict the price with the corresponding continuity.
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im posible
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December 12, 2021, 06:32:31 AM |
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Predict bitcoin with AI? Hmm Interesting, and if it proves to be possible then I don't think bitcoin will be as popular as it is now because of the lack of trust of bitcoin users in the purity of fluctuations in the market. If indeed AI can predict the price of bitcoin then how? While there are many algorithms related to bitcoin that cannot be calculated mathematically. For example political conditions, natural disasters, tragedies etc.
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KaliLinux
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December 12, 2021, 06:49:55 AM |
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Yeah, of course, however, you can expect that it will give consistent results as crypto by nature is very unpredictable. Machines do base their prediction on past movements and trends, but how about the news which is a major reason why the market moves? I mean the latest rumors, and the FUD, a machine could not detect that.
Exactly, There are many other things or news that can suddenly make the market move in the opposite direction and this has constantly happened in the market as we have witnessed in the past and I don't think that AIs and ML can detect that information before they happen. If the market wasn't manipulated sometimes maybe this is possible.
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Wawa2013
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December 12, 2021, 06:54:10 AM |
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If this is about truly 100% true, exactly no. If it is true exactly, there may be not really high diffefence of the rate. Additionally, prediction is a prediction in which it may happen in exact time, in some time, or never also happen. But at least commonly the tool will help us to predict the quite true rate at certain time based on the resistant, time framework, and also other indicators. So it will not be far away from what rate we have predicted.
Until now I have not found a machine that can predict the price of Bitcoin 100% accurately, what the machine predicts the results are not so far from the prediction results that I do. So I don't need a machine to predict Bitcoin prices, because I just do my own research and analysis. But for people who don't have time to monitor the market or don't have good analytical skills, there is nothing wrong with using the help of machines to predict the price of Bitcoin. But it must be remembered not to rely too much on machines to predict Bitcoin prices, it will not make our analytical skills develop. We still have to learn how to analyze correctly.
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davis196
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December 12, 2021, 07:05:09 AM |
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I've watched a lot of YouTube videos and read a lot of articles that claim that you can predict the Bitcoin price with Machine Learning and artificial intelligence like using some algorithm. Truth be told it is both intriguing and almost at the same time confusing. Personally, I don't think any ML or AI tech can make any price prediction now because we have a lot of whale manipulation (because the market size is smaller than any other market). Well, while I may be wrong I would like to know what you think. Have you ever gotten a satoshi richer by following the prediction of an algorithm?
If it was possible to predict all financial markets by using algorithms,then any trader in the world would be using those algorithms and profiting and no one would be losing money from trading.This is ridiculous because trading on the financial markets is a zero sum game and the profit of one is the loss of another. There are factors on the financial markets that cannot be predicted by any trading bot,AI or algorithm,like FUD news for instance.Can some AI bot read all FUD news and decide which ones are going to move the cryptocurrency prices and which ones are fake FUD?AI bots aren't that intelligent,aren't they. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Ozero
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December 12, 2021, 07:08:34 AM |
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Any forecasting of prices in the cryptocurrency market is one of the likely events that may occur in the future. The price of a cryptocurrency can be influenced by the action of even one person who can put it up for sale or buy a large batch of cryptocurrency. Therefore, I do not think that any price forecasting can predict price movements in this market with any certainty. For example, how many forecasts were there about the expected rise in prices at the end of this year. And all of them were not confirmed.
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ipanks
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December 12, 2021, 10:01:42 AM |
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Unfortunately, the era for AI predicts bitcoin price volatility is not coming yet but it can happen in the future, especially if the technology is better than today. The AI can calculate what will happen with the price but still, it is hard to get a 100% possibility that the AI can predict with the right because the crypto market is something that is out of our expectations. The AI can gather all sources easily if the machine has the highest internet connection so AI can predict what will happen later and give a solution to us. But we need to wait for that era to come.
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Ararbermas
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December 12, 2021, 10:40:00 AM |
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I've watched a lot of YouTube videos and read a lot of articles that claim that you can predict the Bitcoin price with Machine Learning and artificial intelligence like using some algorithm. Truth be told it is both intriguing and almost at the same time confusing. Personally, I don't think any ML or AI tech can make any price prediction now because we have a lot of whale manipulation (because the market size is smaller than any other market). Well, while I may be wrong I would like to know what you think. Have you ever gotten a satoshi richer by following the prediction of an algorithm?
if it's true and already existing for sure most people will provide immediately such bots to get the real direction of the prices in the market and surely no one will ignore on it! But you know when it comes internet especially youtube probably we can't really say easily if all of what they're saying is totally legit wherein since most of the influencer nowadays were making videos just to have a content on their channel..for me in my personal opinion it's hard to believe because if it's already existing maybe it's now popular and featured in some legitimate sites or news.. Just saying..
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JohnBitCo
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December 12, 2021, 11:15:00 AM |
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I've watched a lot of YouTube videos and read a lot of articles that claim that you can predict the Bitcoin price with Machine Learning and artificial intelligence like using some algorithm. Truth be told it is both intriguing and almost at the same time confusing. Personally, I don't think any ML or AI tech can make any price prediction now because we have a lot of whale manipulation (because the market size is smaller than any other market). Well, while I may be wrong I would like to know what you think. Have you ever gotten a satoshi richer by following the prediction of an algorithm?
This is not practically possible to determine the bitcoin prices with Artificial intelligence. The AI works well when you have the old data and there is the chance that same pattern may be repeated in the future which is not possible when it comes to bitcoin price. We may input different patterns and predict the outcome but more often the trading patterns fail to execute in trading because of whales' manipulation.
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deadmousehat
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December 12, 2021, 11:22:51 AM |
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I've watched it too. in my opinion not all videos on youtube provide correct and valid information. very easy to know the video is true or not. Are those who make videos very rich now with this AI and algorithm to predict bitcoin price?
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meanwords
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December 12, 2021, 11:55:09 AM |
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I've watched a lot of YouTube videos and read a lot of articles that claim that you can predict the Bitcoin price with Machine Learning and artificial intelligence like using some algorithm. Truth be told it is both intriguing and almost at the same time confusing. Personally, I don't think any ML or AI tech can make any price prediction now because we have a lot of whale manipulation (because the market size is smaller than any other market). Well, while I may be wrong I would like to know what you think. Have you ever gotten a satoshi richer by following the prediction of an algorithm?
There's a lot of factors that concerns the price of Bitcoin and most of them are unpredictable and sudden things. Predicting the precise price of Bitcoin would very well mean that AI can predict our future. I know those youtube videos did research on the topic but most of them are theoretical and not practical. Basically, it's impossible to predict the price of Bitcoin even if AI/ML have so much data.
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DaveF
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December 12, 2021, 01:10:33 PM |
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Hate to use a movie quote but:
"A person is smart. People are dumb, panicky dangerous animals and you know it." - Agent K
That is why machine learning for trading will always fail, people can panic and be irrational at the smallest thing that is not at all relevant to the price of BTC, or anything else for that matter. Big brokerage houses have spent tons of money working on it and although they do work somewhat they have also had some spectacular failures. That will not change. Over time it will get better and computers get faster and faster the same way they have over decades, but a group of people / investors panicking over something or getting excited and buying over something else. Nope, never going to happen.
-Dave
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The Cryptovator
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December 12, 2021, 01:22:09 PM |
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At least I am not convinced. It's just nonsense to believe that any machine or AI could predict Bitcoin price. Ask yourself who has been making all of this machine and artificial intelligence? Aren't they human? These all will work according to the program you install. AI or machines could calculate faster than you and me based on Algorithms. So if the programmer could take real-time decisions then how an AI could take. The price of Bitcoin depends on many things, not only a single fact. So it's impossible to predict Bitcoin price by AI or machine. Perhaps sometimes would be machine or near-miss but that's miracles, not a perfect prediction. Don't believe always what YouTubers saying, they about to earn money, they don't care about you really.
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kaya11
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December 12, 2021, 01:22:46 PM |
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I've watched a lot of YouTube videos and read a lot of articles that claim that you can predict the Bitcoin price with Machine Learning and artificial intelligence like using some algorithm. Truth be told it is both intriguing and almost at the same time confusing. Personally, I don't think any ML or AI tech can make any price prediction now because we have a lot of whale manipulation (because the market size is smaller than any other market). Well, while I may be wrong I would like to know what you think. Have you ever gotten a satoshi richer by following the prediction of an algorithm?
It's hard to believe such a thing exist you know. If people knew it is happening then Bitcoin trust will downfall, the price too. Who would ever bet on a game which they already know they will lose anyways. People with influence will be having those kind of information, the rich and powerful which will take advantage of the technology and in the end the mass get's poorer even more.
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