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Author:

Yamak, Peter T. (Yamak, Peter T..) | Yujian, Li (Yujian, Li.) | Ting, Zhang (Ting, Zhang.) | Kyefondeme, Dakurah C. (Kyefondeme, Dakurah C..)

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EI

Abstract:

This research proposes a novel approach for forecasting cryptocurrency prices, specifically Bitcoin which dominates the market. Accurately predicting cryptocurrency values is challenging due to their highly volatile nature. The proposed hybrid model uses ResNet Convolutional Neural Network to encode Bitcoin price time series data into discriminative representations. These representations capture long-range dependencies using XGBoost regression. Additionally, wavelet denoising is applied to filter noise from the price data. The combined ResNet-XGBoost-Wavelet model achieves satisfactory results for Bitcoin price forecasting and has practical applications for developing quantitative trading strategies. While incorporating sentiment analysis and additional influencing factors could further improve predictions, this work presents a competitive approach for minimizing investment risks and maximizing profits in the complex domain of cryptocurrency markets. © 2023 Copyright held by the owner/author(s). Publication rights licensed to ACM.

Keyword:

Forecasting Time series Bitcoin Risk assessment Investments Convolutional neural networks Sentiment analysis

Author Community:

  • [ 1 ] [Yamak, Peter T.]Beijing University of Technology, China
  • [ 2 ] [Yujian, Li]Guilin University of Electronic Technology, China
  • [ 3 ] [Ting, Zhang]Beijing University of Technology, China
  • [ 4 ] [Kyefondeme, Dakurah C.]Beijing University of Technology, China

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Source :

Year: 2023

Page: 103-112

Language: English

Cited Count:

WoS CC Cited Count: 0

SCOPUS Cited Count:

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 7

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