Research Article
Research on the Price Prediction of Bitcoin and Gold Based on Random Forest Model
@INPROCEEDINGS{10.4108/eai.2-12-2022.2327931, author={Jingben Lu and Yawei Song and Qianhui Li and Junrong Tang and Yuke Hou}, title={Research on the Price Prediction of Bitcoin and Gold Based on Random Forest Model}, proceedings={Proceedings of the 2nd International Conference on Information, Control and Automation, ICICA 2022, December 2-4, 2022, Chongqing, China}, publisher={EAI}, proceedings_a={ICICA}, year={2023}, month={3}, keywords={bitcoin; gold price; random forest; investment}, doi={10.4108/eai.2-12-2022.2327931} }- Jingben Lu
Yawei Song
Qianhui Li
Junrong Tang
Yuke Hou
Year: 2023
Research on the Price Prediction of Bitcoin and Gold Based on Random Forest Model
ICICA
EAI
DOI: 10.4108/eai.2-12-2022.2327931
Abstract
In recent years, machine learning has achieved good results in the field of asset prices. Compared with traditional data analysis and technical analysis, using machine learning methods can show unique advantages in various aspects. In this paper, we combine the correlation between bull and bear markets and bitcoin and gold prices in the market, and apply a random forest model to predict them. The results of the study show that the random forest has high explanations and the accuracy of the model predictions are above 0.9, indicating that the model is a good fit for bitcoin and gold price predictions; bitcoin price is volatile and not suitable as a long-term investment, and it is suitable for gold at the beginning of each year.
