If you’re it’s because you’re a crypto enthusiast or you’re willing to know more about crypto world. One of the most asked question is what’s the price prediction for Bitcoin? What is the price forecast for crypto like Ethereum, Solana, Polkadot ecc..?
Let’s find together which are the top 5 site for Crypto and Bitcoin Price predition.
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TOP 5 site for Crypto and Bitcoin price prediction
- https://coinpriceforecast.com/: in this website you can find the price prediction about Crypto World and other Stock (like Amazon)
- https://cryptocurrencypriceprediction.com/: you can find a bunch of different cryptocurrency with price prediction updated daily
- https://longforecast.com/: The Economy Forecast Agency (EFA) is specialized on long-range financial market forecasts. They use models for long-term forecasting crude oil prices and precious metals prices, exchange rates, interbank interest rates, stock indices and some other macroeconomic indicators. The horizons of forecasts are 5, 10 and 15 years.
- https://walletinvestor.com/forecast: you can choose over a wide range of crypto to foresee the past trend and the expected future trend.
- https://colintalkscrypto.com/cbbi/:The CBBI is a Bitcoin index that utilizes advanced, real-time analysis of 11 metrics to help us understand what stage of the Bitcoin bull run and bear market cycles we are in. The CBBI is time-independent and price-independent. It simply indicates whether it believes we are approaching the top/bottom of a Bitcoin cycle.
How is Bitcoin and Crypto Price prediction performed?
There are several methods upon the price prediction on crytocurrency is done. Let’s view some together.
Crypto Price prediction with Deep Learning
Cryptocurrency prices are difficult to forecast due to price volatility and dynamism.
Around the world there are hundreds of cryptocurrencies that clients use. In this paper,
we focus on three of the most popular ones. As a result, the paper aims to achieve the
following by using deep leaning algorithms, which can discover hidden patterns from data,
integrate them, and create far more efficient predictions:
• Presenting a comprehensive study of the various existing schemes to predict the prices
of BTC, ETH, and LTC cryptocurrencies.
• Using AI algorithms such as LSTM, bi-LSTM, and GRU to accurately predict the prices
of cryptocurrencies.
• Utilizing long short-term memory (LSTM), a deep learning algorithm, and Fbprophet,
which is an auto machine learning algorithm, for prediction.
• Evaluating the proposed hybrid models using evaluation matrices such as RMSE and
MAPE for Bitcoin, Ethereum, and Litecoin.
For more and mathemathical models, please refer to this link.
The Classic Method for Bitcoin price prediction: technical analysis
In Bitcoin and cryptocurrency trading, pattern recognition plays an important role because unique patterns on charts help traders to find good opportunities.
Chart patterns are distinctive formations on charts created by price movements of Bitcoin or other digital assets. They are the foundations of technical analysis. A chart pattern is formed when a line connects common price points during a specific time period. These patterns can be simple trend lines or more complex ones such as double head-and-shoulders formations.
Some of the most popular charts to conduct technical analysis are:
- Candlestick chart
- Point and Figure chart
- Renko Chart
- Line Chart
They are either plotted on arithmetic or logarithmic scale.
Technical analysts and chartists identify these price patterns, examine current movements, and anticipate future market movements. However, traders often face the problem of information overload by drawing an endless number of patterns on a chart. That’s why, as a trader, you have to first determine which patterns you’ll see to make a trading decision.
The Stock to Flow Model
Another famous model used for Bitcoin price prediction is the Stock to Flow Model, firstly introduced by PlanB. For more about this model, please refer to the article: Bitcoin – S2F Model explained.