Can Machine Learning truly predict Bitcoin's price?

[Nahl]

Never heard like this before and i doubt there will be a machine programmed to predict bitcoin price with 100% accuracy and if there is then i think the creators of these machine will be so rich because they can able to predict further movements of bitcoin price however bitcoin price is unpredictable and you can predict use your own skill or using stuffs but the results will depend on the market itself

[kryptqnick]

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?

I agree that it's impossible to predict the price movements, but not due to whale manipulations. Who could've thought in February 2020, when the price was sitting comfortably at around $9k, that it will drop to $5k in the middle of next month due to the WHO announcing the pandemic? No machine learning could have taken into account this event from the world of medicine to predict the drop of the price because there are too many factors if we consider things like it. Bitcoin's price depends heavily on what's going on in the world. Not directly, of course, but due to all sorts of articles that appear online when this or that country introduces a restrictive bill, Musk tweets something positive or negative or something like a once-in-a-century pandemic hits the world.

[serverfire]

It can predict the price, that's for sure! We've done it and I'll share some screenshots tomorrow. We have trained a model using the past six months' hourly close candles, which is capable of predicting the next candle close. our work is not done yet.  

[qwertyup23]

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?

Hmm this is an interesting concept especially when you consider the computation of the algorithms which look for the most probable move but I doubt that it may be able to predict accurately the price of BTC.

Remember that the price of cryptocurrencies derive from several external and internal factors that can be outside the control of anyone. Even if machines take it into consideration, there will always be that +/- variable which can either make or break one's investment.

[kucritt]

hi, i know right now there are many people that learn about machine learning, it will help people in the many ways, it can predict, give as suggestion, and anything else. but for predict bitcoin price, i think it will possible and not possible. the possible way because machine learning are learning from history, its mean they can predict price from the pattern of history chart.
and the not possible way because, the machine learning can't learn about the market sentiment, news, and the hype right now

so if you ask about predict bitcoin price with machine learning, my answer, yes it can!

[realcrypto]

Prediction of Bitcoin price with Machine Learning and artificial intelligence like using some algorithm is almost impossible. Whale manipulation is so obvious to the extent I don't bother myself with technical analysis anymore, I just focus on fundamental analysis because when it comes to bitcoin price prediction fundamental analysis overrides technical analysis.

[eaLiTy]

I think machine learning can predict bitcoin's value but not that accurately as machine learning predicts by analyzing past patterns , it wouldn't take into consideration of current news. For example Covid lockdown and many other factors which affects bitcoin's value in real time.So IMO also do your research before believing in youtubers and investing blindly.

They can evaluate the market situation in multiple exchanges and then have an idea about the market by studying and analyzing the buy and sell wall of major exchanges. Other than that it is hard to predict the price with any machine learning and no one can predict exactly what will happen in the market and if someone finds that magic solution, he will be a billionaire  .

[Shasha80]

Never heard like this before and i doubt there will be a machine programmed to predict bitcoin price with 100% accuracy and if there is then i think the creators of these machine will be so rich because they can able to predict further movements of bitcoin price however bitcoin price is unpredictable and you can predict use your own skill or using stuffs but the results will depend on the market itself

Bitcoin price moves very volatile and it is caused by various factors, such as manipulation of whales, or there is a major event such as a pandemic
that causes the price of Bitcoin to move unexpectedly. So it is very difficult to predict the price of Bitcoin accurately. Therefore I doubt there is
a machine that can accurately predict the price of Bitcoin, if there was a machine that could accurately predict the price of Bitcoin, there must be
a lot of rich people popping up. Not only are the creators of these machines rich, but the users of these machines can become rich as well.
The most effective way of predicting the price of Bitcoin is do our own research and analysis.

[Tumanggor]

if we believe that machine learning can accurately predict up to 100% the price of bitcoin then those who buy bitcoin are bots

machine learning algorithms are man-made and man-made nothing is perfect so what is discussed on youtube is just a speculation, it will never happen

[Ryker1]

I think machine learning can predict bitcoin's value but not that accurately as machine learning predicts by analyzing past patterns , it wouldn't take into consideration of current news. For example Covid lockdown and many other factors which affects bitcoin's value in real time.So IMO also do your research before believing in youtubers and investing blindly.

They can evaluate the market situation in multiple exchanges and then have an idea about the market by studying and analyzing the buy and sell wall of major exchanges. Other than that it is hard to predict the price with any machine learning and no one can predict exactly what will happen in the market and if someone finds that magic solution, he will be a billionaire  .

Well, this perhaps how will work those automated trading bots or they say machine learning that powered by AI which if you will analyze from the word AI ^{[Articificial Intelenge]} which is man-made. If I am the owner of that machine learning I will not even sell into the market because every perhaps becomes a millionaire in crypto. So, --it is impossible that there is a tool that can predict the market price. Perhaps they can do execute buy and sell on your behalf but not totally tell about the exact price.

[franky1]

AI if it had all the possible data to analyse as explained in my last post, could kinda predict price movements.
but here is the thing

if several bots all had the same data, and got triggered all when the same pattern appeared. guess what. those bots would then react and cause the pattern to break because the trigger caused a different action(due to the bots). this then causes a new variable to then try to predict.

EG if you knew everyday that a fruit stall owner sold 10 bananas an hour for 10 hours. and you then done something based on this info. such as buy up all his 100 banana's at dawn to benefit you, so that you could sell them for a few cents more during the day.
the following day. the fruit stall owner would then change his plans. by bringing 200 banana's to market, or reducing his price to compete against you. or many other things

you cant then rely on your 100 banana data from yesterday to help you tomorrow.

other examples are. if a btc market patten triggered to suggest a dip. and several bots then went on a buy spree. the suggested dip wont happen because the bots buying spree caused the price not to drop. this pattern broke.

its like pump and dump groups. without knowing that a prise rise spike was going to happen. you can cause one by chanting to enough believers that one would happen. get them to go on a buying spree and its then actually them that cause the spike due to your chanting.. thus a self fulfilling prophecy. without the suggestive chanting. the spike would not have happened.

[josephdd1]

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?

I doubt that machine learning is capable of predicting the price of Bitcoin. There are market-makers that guide the price, also there are different news that can't be predicted and taken into consideration, so there are too much factors that influence the price. If this machine uses trading patterns, I don't think that it will always guess the price as according to statistics, traders lose more often than earn.

[franky1]

I doubt that machine learning is capable of predicting the price of Bitcoin. There are market-makers that guide the price, also there are different news that can't be predicted and taken into consideration, so there are too much factors that influence the price. If this machine uses trading patterns, I don't think that it will always guess the price as according to statistics, traders lose more often than earn.

all those factors. are just a question of data.
EG if the AI had access to an exchanges user database, it can then easily associate the users trading patterns with when media drama occur.
EG flag the users that trade when there is media hype
it can then total up the exchange balance of those flagged users. to know how much total value could hit the order books when media drama occur. thus gauge how much volume trade could occur in a media drama hour, day, week

the issue is not pattern recognition or too many factors. computers can sift through billions of variables a second.
the real issue is the access to the data.

such data does exist. exchanges have it. their users database and their users order history..
but this is not publicly accessible data easy to retrieve outside the exchange.

that the crux of the issue.. not the pattern recognition. but the data access to then use in the pattern recognition

[kotajikikox]

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?

I think supporting that Whale manipulation is what my stand here and so the AI and ML is not that accurate if someone can move the market here and there.

how can this be accurate when you know that 10-20 persons together can make this market well manipulated .

if we believe that machine learning can accurately predict up to 100% the price of bitcoin then those who buy bitcoin are bots

machine learning algorithms are man-made and man-made nothing is perfect so what is discussed on youtube is just a speculation, it will never happen

There is no such thing as 100% accurate in this, Bitcoin has limited  stocks and so as the control in value.

[TheUltraElite]

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?

Prediction algorithms, ML and AI are currently the talk of the century. It is because of certain tech companies working on such projects that every social media platform ends up creating a buzz around it filled with users who dont even have any sort of tech background to talk about it.

Videos on YT get recommended by what people watch in your demographic and they should not be taken as all real or an interpretation of what is being done.

Heck if it was even real, then the market for such software would have gone up in huge demand for every trader would have wanted it. But that is not the case. Buzzwords should always be avoided and this is the bad effect when we give them unwanted attention.

The only thing that one needs to remember when thinking about prediction - they are based on previous chart data and recent news trends. But how the market may move depends on a lot of different reasons very much unknown to the common people. Hence such predictions can only be 50-50 correct, just like any other new analyst or self-proclaimed "financial advisor". I would rather do my own research on pen and paper.

[peter0425]

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?

I doubt that machine learning is capable of predicting the price of Bitcoin.

i think this does not totally predicting 100% but at least this can help collecting data to make analyzation and maybe get the closer predictions.

and besides never believe in complete prediction because this is really impossible to happen.

There are market-makers that guide the price, also there are different news that can't be predicted and taken into consideration, so there are too much factors that influence the price.

News are human created sometimes specially in a volatile market like crypto, whales loves to create News to shake the market and let the weak scares and sold their coins.

If this machine uses trading patterns, I don't think that it will always guess the price as according to statistics, traders lose more often than earn.

wrong traders will not lose more often if they will not become greedy and stupid to seek for so much income .

[Mikayla Buckley]

Robot prediction is to give a rough analysis based on the price trend, but it cannot predict what accidents will happen. It may be more convenient to use robots in stablecoins. Do not use robots for hype coins. The robot and our artificial analysis should be the same.

[bitterguy28]

Robot prediction is to give a rough analysis based on the price trend, but it cannot predict what accidents will happen. It may be more convenient to use robots in stablecoins. Do not use robots for hype coins. The robot and our artificial analysis should be the same.

yes this is only for rough pricing speculating but not that accuracy so best not to expect big on this instead do your own diligence and research , observe the movement and not to deal with huge profit .
best to just take small percentage but accurate than seeking for 3 digits income.

if we believe that machine learning can accurately predict up to 100% the price of bitcoin then those who buy bitcoin are bots

Funny but true , this may sounds joke but if we look deeper this cannot be happen as human knows more than robot lol.

[OrangeII]

well, how can they predict that exactly, whereas bitcoin or crypto trading is a trade about demand and need. well, actually, looking at it from youtube, I can't believe it 100%, moreover it's a machine. even bots that are designed to have a fairly accurate prediction system can't even predict bitcoin price movements. maybe it can give you speculation about from the information obtained, but I'm not sure that it's 100% true.

[fxsniper]

I believe AI - machine learning (deep learning) can possible to predict bitcoin price
but don't use time series forecasting
may be customize model training by price habits or investor habits can possible success to predict
but can do only very large size model development (like GPT-3), for small develop and simple develop can not predict bitcoin