An AI-powered Twitter bot predicts Bitcoin’s price

redsun114

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Quote from: Taskford on April 14, 2024, 04:03:27 AM

Quote from: peter0425 on April 14, 2024, 03:21:41 AM

AI is mostly powered based on data and human activities so I am sure that the idea of a AI bot being able to read the market and its possible outcomes is not that unrealistic.

It might not be successful right now but I believe that we could reach different places someday with an AI prediction bot. I think it could definitely help and if perfected can do so much for the economic sector.

Yes it somehow had a basis since it gather all the information available that's why it gives out certain data that might possible to happen in future. But even if there's prediction given by AI then maybe its better for us not to 100% believe on it and still we need to think about other things so that we will not fucked up by something like expectation didn't meet. Remember that there's disclaimer that market is volatile and prediction may change depends on the movement of the market so there's no accurate things given but the prediction given by AI is helpful since its like we have some snapshot on what possible scenario may happen in future.

Even though we are only predicting here, let's admit it that we can rely more on someone or something which had a basis than compared to those who don't have it because their predictions might have a better success rate. Given that AI's are only programmed by humans, why will someone worry about their ability?

I mean, it's the same as listening to a human but it's just that it was the AI this time, though yeah that no matter what side we choose, we should not ever give our 100 percent trust to them, especially when it comes to predictions. Not only that we will be safe, we won't also mess up our mental health for expecting too much that didn't came into a reality.

Maus0728

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Quote from: pooya87 on April 09, 2024, 12:29:04 AM

It is impossible to see the future! Writing some code to predict it, is definitely not going to work.
This is why your "bot" fails.

We aren't yet in the unpredictable territory either. I'd say at the time being because of the halving and the similar patterns in history we are in a more predictable phase where speculation about the price is easier in comparison to other times when certain events cause unpredictable volatility.

We'll eventually get there, success after all is a compilation of mistakes (that's not repeated), we will eventually be able to predict prices and I think that they're probably doing this too with the Stock Market, if you can corroborate human behavior and the previous market for that time and arrive at a conclusion, there's a chance that you can predict what can happen, of course this won't be true in the cases of market manipulation but if we're just talking about the invisible hands of the market then AI will able to eventually predict how the market will move, AI isn't perfect yet but we humans will eventually come to that point.

Taskford

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Quote from: peter0425 on April 14, 2024, 03:21:41 AM

Quote from: Ale88 on April 12, 2024, 11:22:28 PM

Quote from: tenrox on April 08, 2024, 09:59:57 PM

Months later, after taking AI courses, I decided to try again. This time, it worked. But it wasn’t as accurate as I expected. I accepted that no such thing predicts a cryptocurrency’s price with 100% accuracy.

I really don't understand how you may think that AI could somehow predict the future.

AI is mostly powered based on data and human activities so I am sure that the idea of a AI bot being able to read the market and its possible outcomes is not that unrealistic.

It might not be successful right now but I believe that we could reach different places someday with an AI prediction bot. I think it could definitely help and if perfected can do so much for the economic sector.

Yes it somehow had a basis since it gather all the information available that's why it gives out certain data that might possible to happen in future. But even if there's prediction given by AI then maybe its better for us not to 100% believe on it and still we need to think about other things so that we will not fucked up by something like expectation didn't meet. Remember that there's disclaimer that market is volatile and prediction may change depends on the movement of the market so there's no accurate things given but the prediction given by AI is helpful since its like we have some snapshot on what possible scenario may happen in future.

peter0425

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Quote from: Ale88 on April 12, 2024, 11:22:28 PM

Quote from: tenrox on April 08, 2024, 09:59:57 PM

Months later, after taking AI courses, I decided to try again. This time, it worked. But it wasn’t as accurate as I expected. I accepted that no such thing predicts a cryptocurrency’s price with 100% accuracy.

I really don't understand how you may think that AI could somehow predict the future.

AI is mostly powered based on data and human activities so I am sure that the idea of a AI bot being able to read the market and its possible outcomes is not that unrealistic.

It might not be successful right now but I believe that we could reach different places someday with an AI prediction bot. I think it could definitely help and if perfected can do so much for the economic sector.

Ale88

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Quote from: tenrox on April 08, 2024, 09:59:57 PM

Months later, after taking AI courses, I decided to try again. This time, it worked. But it wasn’t as accurate as I expected. I accepted that no such thing predicts a cryptocurrency’s price with 100% accuracy.

I really don't understand how you may think that AI could somehow predict the future. Nothing can be 100% sure, it's 2024, this type of expectations shouldn't even exist at this point. For all we know tomorrow Russia could declare war to the European Union and all the markets would crash and who knows what else could happen in the future.

masyari

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We need at least two another gens of LLMs to really care about their predictions

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Quote from: goldkingcoiner on April 11, 2024, 08:47:06 AM

The price cannot be predicted exactly, even with AI. That is because there are too many unknown variables which effect the price. And you don't need AI to see the most probable direction that the Bitcoin price will go if you have a basic understanding of Technical Analysis and Fundamental Analysis.

Exactly. That’s just how it is.
It’s almost the same like an octopus predicting the fifa World Cup results some years back. Nobody can know what happens, anything is possible.
It’s always funny when people actually believe in this stuff and make their decisions according to AI or whatever "predictions".

goldkingcoiner

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The price cannot be predicted exactly, even with AI. That is because there are too many unknown variables which effect the price. And you don't need AI to see the most probable direction that the Bitcoin price will go if you have a basic understanding of Technical Analysis and Fundamental Analysis.

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Quote from: Outhue on April 09, 2024, 07:09:02 AM

That bot isn't a time machine, stop trying so hard to make it look like one.

Even the best predictors in the crypto space are all based on past history and data, and there is room for something new to happen, which will wipe off every past history in the chart.

Even though there is usually a saying that goes “history is bound to repeat itself” it does not mean that everything from the past will accurately repeat itself. At some point, there would be a change that is caused by numerous factors that were not present before.

For example lots of people speculate the impact of bitcoin etf on its price pre-halving. No one probably thought of etf becoming a possibility during bitcoin’s early times and thus there was no way you could predict other factors that may or may not happen in the future that could affect bitcoin’s price.

Aanuoluwatofunmi

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Quote from: tenrox on April 08, 2024, 09:59:57 PM

I’d like to share my story about how I made an AI-powered Twitter bot that predicts Bitcoin’s price.
There’s a summary at the bottom for those who don’t have time.

I will have to commend you for giving this a try and having it to this particular stage, but if we are to also look into how acceptable is the use of twitter bots and other bitcoin price predictions, some may want to track down their bitcoin price through the speculations made from the use of the market price performance chart then relying on bot, except, but if the bot is only about a particular or current tie range, then people will like to follow up with the use and not by receiving predictions on the future price which they may probably doubt how true it could be when they know they can speculate by themselves.

pinggoki

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Quote from: Jet Cash on April 09, 2024, 07:36:45 AM

I think your mistake was to measure your success in Fiat. If you used your bot to build a Bitcoin holding via trading, and measured its success in Bitcoin, then you would have very different results. I did some scalping on Coinbase to build a few Satoshi, and I've kept those. I ended up with more Satoshi than just a simple buy and HODL. It's a bit harder now with new government regulations and taxes, so you will have to factor in those.

It's probably because it's easy to understand it and it would be a bit difficult if it's changed in a way that you'd have to be questioning how exactly it works. Some people can't really understand how it would do though and with the number that it might show in bitcoin, some might not unconsciously consider this bot to be this powerful. I've heard of scalping before too, I haven't tried it yet but I'm definitely not the kind to be not trying anything new if I know that there's a possibility that I can get some more wins but for now I just do DCA and that's it, not that crazy but also not guaranteed a big profit in short-term

Richbased

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Quote from: Cryptomultiplier on April 09, 2024, 12:46:16 PM

Quote from: BitMaxz on April 09, 2024, 01:26:25 AM

I guess this Twitter bot predicts that Bitcoin will skyrocket which is obvious due to this coming event block halving.
As a technical analysis, we can only predict possible prices depending on the previous price action you can rely on the support and resistance as a prediction you don't need to predict the future because no one knows what will be the price of Bitcoin but there is a high possibility that Bitcoin price will rise more than the previous price once $73k broke.

This AI- powdered bot idea sounds not so different from what crypto signals do. They just predict and no matter how accurate any instrument predicts the price of BTC, BTC will always be affected by demand factor based.
Its price will always be hard to predict given that other variables like government policies and agencies and the halving event already happened and one is waiting for the right time to invest.

I did try to visit the site on X and there's no content there as it has been moved.

You ain't far from the truth because this bot were programmed by humans as well so there is every possibility that it's predictions may near the actual price but not exactly what it would be. Just like you said the demand is a key factor that determines the price movement of Bitcoin and the higher the demand, the higher the supply thereby this process is actually what will have effect on the price of BTC so basically, a bot can't really predict the in-flow that would come to the market after halving considering the fact that it is the determining factor.

However, knowledge will surely increase but uncertainty can occur in the future and create an error that were not discovered now but regardless these AI bots can stand as a prerequisite that will pave way for future speculations and predictions to meet reality.

Cryptomultiplier

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Quote from: BitMaxz on April 09, 2024, 01:26:25 AM

I guess this Twitter bot predicts that Bitcoin will skyrocket which is obvious due to this coming event block halving.
As a technical analysis, we can only predict possible prices depending on the previous price action you can rely on the support and resistance as a prediction you don't need to predict the future because no one knows what will be the price of Bitcoin but there is a high possibility that Bitcoin price will rise more than the previous price once $73k broke.

This AI- powdered bot idea sounds not so different from what crypto signals do. They just predict and no matter how accurate any instrument predicts the price of BTC, BTC will always be affected by demand factor based.
Its price will always be hard to predict given that other variables like government policies and agencies and the halving event already happened and one is waiting for the right time to invest.

I did try to visit the site on X and there's no content there as it has been moved.

Jet Cash

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I think your mistake was to measure your success in Fiat. If you used your bot to build a Bitcoin holding via trading, and measured its success in Bitcoin, then you would have very different results. I did some scalping on Coinbase to build a few Satoshi, and I've kept those. I ended up with more Satoshi than just a simple buy and HODL. It's a bit harder now with new government regulations and taxes, so you will have to factor in those.

kentrolla

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We need to understand one thing that no bot can be accurate because Bitcoin is not static that we can consider only the price chart or past data because there are numerous factors which decides the market and it's impossible to have all the logics implemented into the bot for prediction hence I would say we shouldn't waste time in bot prediction unless we have coded it with certain logics based on our strategy.

Outhue

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That bot isn't a time machine, stop trying so hard to make it look like one.

Even the best predictors in the crypto space are all based on past history and data, and there is room for something new to happen, which will wipe off every past history in the chart.

You can't always be right with Bitcoin, you can only me prepared for any possibility because it goes two sides either bull or bear, instead of trying to be a future reader it's wiser to be prepared for these two sides.

Every bots that are based on predicting the future will always fail, I am guessing that this is all about Bitcoin halving, but still nothing can predict the future, know this and know peace.

Good luck with your back-to-the-future bot.

Die_empty

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Quote from: tenrox on April 08, 2024, 09:59:57 PM

Takeaways

Never give up. I know you hear that a lot, but nobody takes it seriously. If I had given up after failing on my first try, I wouldn’t be writing this now.
Nothing great comes that easy. The best things take work.
It all starts with a tiny, stupid idea, then one thing leads to another, and suddenly, you find something amazing.

Nothing good comes easy that is why we need to keep trying even after failing several times. Almost all the great inventions that we are benefiting from today took many pains and disappointments before they became stable and useful. I will not depend on any bots to predict the price of Bitcoin, however great job. People who believe in the power of artificial intelligence might find your invention useful.

Quote from: Reatim on April 09, 2024, 01:34:21 AM

Quote from: pooya87 on April 09, 2024, 12:29:04 AM

It is impossible to see the future! Writing some code to predict it, is definitely not going to work.

The thing is even though we could get an idea of how the market would move next through analyzing historical patterns and data, we need to remember that how the market is still driven by decisions of people.

The price of Bitcoin is not just affected by the decisions of people but I institutions and the government making the price unpredictable. I am not sure there was a prediction by this time last year that the SEC would approve Spot Bitcoin ETF. Many people were sceptical that Gary Gensler who was anti-Bitcoin would give up on his history of disapproval.

davis196

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1.Twitter doesn't exist anymore. The platform is called X. Grin

2.What's the point of this forum thread, OP? Do you want to brag about your achievement? Do you want to sell this bot(maybe as software-as-a-service or something)? Can you prove that you have created this AI BTC price predicting bot? Sharing a Twitter/X username doesn't work as a valid proof.
Maybe you should move this forum thread in the Project Development forum, since this looks more like a project to me.
Anyway, good luck with your AI programming journey and I hope that you will make a better AI price predicting bot in the future.

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I think the reason why so many of these Bitcoin trading bots fail, is because Bitcoin is like no other commodity. What other stock or share has the same volatility as Bitcoin?

People base their inputs on models and trading patterns that are more suited for traditional financial instruments and not something like Bitcoin that has crazy volatility.

I have seen several day traders that failed miserably in predicting the future Bitcoin price, with all their higher education and years of experience. Cheesy

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Quote from: pooya87 on April 09, 2024, 12:29:04 AM

It is impossible to see the future! Writing some code to predict it, is definitely not going to work.

The thing is even though we could get an idea of how the market would move next through analyzing historical patterns and data, we need to remember that how the market is still driven by decisions of people.

Most would say that marker movements are all mathematical but I would argue there is also some psychological factors that affect the movement as well. And that is something that is hard to predict let alone an AI bot. Your efforts are noted and maybe there is some other way you could “predict” the movement as accurate as you can.

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