Topic: Online Bitcoin Price Forecast Software (Read 1161 times)
I'll be glad to check out your site and thanks for the work you put into it and being honest about the issues you've noticed regarding unknown news affecting prices. Hope this project continues to get better and many people find it useful for a long time to come.
http://www.btcpredictions.com
Hey guys, this is a website that displays the data produced by software that I've been working on for a while now. The software tries to predict future bitcoin prices using neural networks. Predictions are displayed on charts on the home page, and updated every hour.
It has been relatively accurate in the short time this website has been up. You can see the average error for the neural network that made each prediction above the chart, which is updated whenever the predictions are updated. Usually the 24 hour prediction chart is around 1.3% average error and the 5-day chart tends to be around 2.6%. There is a 20 day prediction chart as well, but that one is a bit less accurate (~8.2% average error). The further the neural network tries to look into the future, the more difficult it is for it to give accurate results. The average error numbers have been gradually lowering though as more data becomes available to base predictions off of.
Unfortunately, the predictions tend not to work as well when news events occur that significantly affect bitcoin prices. I'm going to work on implementing a more complicated neural network soon that may help reduce this problem. If anyone decides to use this as a tool for buying/selling, you need to consider this. I think that these predictions could be very useful, but they have to be combined with diligently following the latest bitcoin news and using your own intelligent judgement.
Hey guys, this is a website that displays the data produced by software that I've been working on for a while now. The software tries to predict future bitcoin prices using neural networks. Predictions are displayed on charts on the home page, and updated every hour.
It has been relatively accurate in the short time this website has been up. You can see the average error for the neural network that made each prediction above the chart, which is updated whenever the predictions are updated. Usually the 24 hour prediction chart is around 1.3% average error and the 5-day chart tends to be around 2.6%. There is a 20 day prediction chart as well, but that one is a bit less accurate (~8.2% average error). The further the neural network tries to look into the future, the more difficult it is for it to give accurate results. The average error numbers have been gradually lowering though as more data becomes available to base predictions off of.
Unfortunately, the predictions tend not to work as well when news events occur that significantly affect bitcoin prices. I'm going to work on implementing a more complicated neural network soon that may help reduce this problem. If anyone decides to use this as a tool for buying/selling, you need to consider this. I think that these predictions could be very useful, but they have to be combined with diligently following the latest bitcoin news and using your own intelligent judgement.
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