Bitcoin price prediction using machine learning methods

Robert Breedlove, Founder and CEO of the digital assets marketing and consulting firm Parallax Digital, has predicted Bitcoin will pass 300,000 dollars by the October of 2021 , which it didn’t, and he expects a worth of over 12 million dollars by 2031.

We answer this research question by comparing six well-established machine learning models trained on 9 months of minutely bitcoin-related data against each other. The results show that the trained models indeed significantly outperform random classification .

One of the most accurate forecasts made in recent months comes from the pseudonymous Dutch analyst PlanB , who predicted in June the price of bitcoin in August and September to within less than a third of a per cent.