Evaluations of the machine learning schemes for cryptocurrency prediction

Abstract

As a matter of fact, stock market prediction remains a challenging and crucial aspect of investment decision-making. Contemporarily, cryptocurrencies are one of the hottest underlying assets on account of its high volatility. In this case, based on high accuracy prediction, it is available to achieve large extra return from the crypto markets. With this in mind, this study investigates the usage of machine learning algorithms, including LSTM, GRU, as well as bi-LSTM, for predicting cryptocurrency prices, focusing on Bitcoin (BTC), Ethereum (ETH), as well as Litecoin (LTC). According to the analysis, the study reveals that the GRU model consistently outperforms other algorithms, MAPE and RMSE values across all three cryptocurrencies. These findings underscore the reliability and efficiency of the GRU model in cryptocurrency price prediction. Furthermore, the research compares the model's performance with previous studies, reaffirming its effectiveness and potential for practical application in investment strategies as well as decision-making.