Comparative Analysis of Machine Learning and Deep Learning Models for Bitcoin Price Prediction

Abstract

This research endeavors to forecast Bitcoin prices by employing a suite of machine learning and deep learning models. Five distinct models were employed: Random Forest, Linear Regression, Support Vector Machine (SVM), Long Short-Term Memory (LSTM), and Gated Recurrent Unit (GRU), each evaluated based on their R-squared scores. Notably, the models showcased diverse performances, with the ensemble learning approach of Random Forest exhibiting near-perfect accuracy, closely followed by GRU and SVM. The deep learning architectures, LSTM and GRU, demonstrated remarkable predictive capabilities, showcasing their adeptness in capturing intricate temporal patterns within the cryptocurrency price data. This study sheds light on the comparative performance of these models, emphasizing their strengths and limitations in predicting Bitcoin prices.