[2014-10-26] BS: New MIT algorithm can predict price of Bitcoin

[polynesia]

New MIT algorithm can predict price of Bitcoin

http://www.business-standard.com/article/pti-stories/new-mit-algorithm-can-predict-price-of-bitcoin-114102600380_1.html

MIT scientists led by an Indian-origin researcher have developed a machine-learning algorithm that can predict the price of the notoriously volatile cryptocurrency Bitcoin.

Researchers at Massachusetts Institute of Technology's Computer Science and Artificial Intelligence Laboratory and the Laboratory for Information and Decision Systems used the algorithm to nearly double their investment over a period of 50 days.

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[bitcoinisfurture]

Can we also check their work? Is it available online if it really works or not?

[polynesia]

Can we also check their work? Is it available online if it really works or not?

I don't think it is.

This story seems to have been picked up by major newspapers, given the 'Indian-origin' connection. 

http://economictimes.indiatimes.com/news/science/new-mit-algorithm-can-predict-price-of-bitcoin/articleshow/44939538.cms
http://www.ndtv.com/article/diaspora/new-massachusetts-institute-of-technology-algorithm-can-predict-price-of-bitcoin-612095
http://www.thehindubusinessline.com/industry-and-economy/banking/mit-scientists-develop-algorithm-to-predict-bitcoin-prices/article6535192.ece?ref=wl_industry-and-economy
http://www.dnaindia.com/scitech/report-mit-team-led-by-indian-origin-researcher-develop-algorithm-to-predict-price-of-bitcoin-2029375

[bitcoinisfurture]

Do we have any websites or software which forecast the value of the BTC for days/week/month etc and also do they work really?