Page 653 - Emerging Trends and Innovations in Web-Based Applications and Technologies

International Journal of Trend in Scientific Research and Development (IJTSRD)
Special Issue on Emerging Trends and Innovations in Web-Based Applications and Technologies
Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470

Cryptoforecast: An AI - Driven Cryptocurrncy Prediction Model

3
Aryan Thakre , Saurabh Thakre , Prof. Anupam Chaube
1
2
1,2,3 Department of Science and Technology,
1,2 G H Raisoni Institute of Engineering and Technology, Nagpur, Maharashtra, India
3 G H Raisoni College of Engineering and Management, Nagpur, Maharashtra, India

ABSTRACT online payments without the use of third-party
Cryptocurrency markets are highly volatile and difficult to intermediaries. "Crypto" refers to the various encryption
predict, posing significant challenges for investors, traders, algorithms and cryptographic techniques that safeguard
and analysts. This paper introduces CryptoForecast, an AI- these entries, such as elliptical curve encryption, public-
driven cryptocurrency prediction model designed to private key pairs, and hashing functions. Central to the
forecast price movements and trends in digital currencies. appeal and functionality of Bitcoin and other
Leveraging machine learning (ML) and deep learning (DL) cryptocurrencies is blockchain technology. As its name
techniques, CryptoForecast utilizes large-scale historical indicates, a blockchain is essentially a set of connected blocks
data, including price patterns, trading volumes, sentiment of information on an online ledger. Each block contains a set
analysis from social media, and macroeconomic indicators, of transactions that have been independently verified by
to generate accurate predictions. The model integrates a each validator on a network. Every new block generated
variety of algorithms such as Long Short-Term Memory must be verified before being confirmed, making it almost
(LSTM) networks, decision trees, and reinforcement impossible to forge transaction histories. The contents of the
learning to improve prediction accuracy over time. Results online ledger must be agreed upon by a network of
demonstrate the effectiveness of CryptoForecast in individual nodes, or computers that maintain the ledger.
forecasting short-term and long-term price trends, offering Experts say that blockchain technology can serve multiple
a valuable tool for market participants. By continuously industries, supply chains, and processes such as online
learning from new data and adjusting to changing market voting and crowdfunding. Financial institutions such as
conditions, CryptoForecast can provide insights that help JPMorgan Chase & Co. (JPM) are using blockchain technology
optimize investment strategies and enhance decision- to lower transaction costs by streamlining payment
making processes in the dynamic and often unpredictable processing.
world of cryptocurrency.
Crypto forecast
CryptoForecast is generally used to describe the prediction
KEYWORDS: Forecast, Prediction, Artificial Intelligence, or analysis of cryptocurrency market trends, prices, and
Investment, currency, Cryptography, Analysis, Security, movements. Some platforms or websites may specifically be
Valuation, Strategy named CryptoForecast, offering tools and predictions to help
traders and investors make decisions. These platforms
INTRODUCTION typically analyse vast amounts of data to offer short- and
CryptoForecast is an advanced, AI-driven cryptocurrency long-term predictions, although they cannot guarantee
prediction model designed to provide accurate forecasts for accuracy due to the volatility of the cryptocurrency market.
the volatile and fast-moving world of digital currencies. It may refer to various tools, platforms, or models that aim to
Powered by machine learning algorithms and sophisticated forecast the future price and market behaviour of
data analysis techniques, CryptoForecast aims to help cryptocurrencies based on different analytical techniques,
investors, traders, and enthusiasts make informed decisions such as :-
based on real-time market conditions and historical trends.
With the cryptocurrency market's inherent volatility,  Technical Analysis: Examining price charts, trends, and
traditional analysis methods often fall short. CryptoForecast historical data to predict future movements.
leverages artificial intelligence to process vast amounts of  Sentiment Analysis: Analysing social media, news, and
data quickly, identify patterns, and generate predictive other sources to gauge market sentiment and predict
insights that can guide short-term and long-term investment price fluctuations.
strategies. A cryptocurrency is a digital or virtual currency
secured by cryptography, which makes it nearly impossible  Machine Learning: Using algorithms and data models
to counterfeit or double-spend. Most cryptocurrencies exist to forecast trends based on past market behavior.
on decentralised networks using blockchain technology a  Fundamental Analysis: Studying the underlying
distributed ledger enforced by a disparate network of technology, use cases, and team behind a cryptocurrency
computers. A defining feature of cryptocurrencies is that project to assess its potential future value.
they are generally not issued by any central authority,
rendering them theoretically immune to government Role of AI in crypto forecast
interference or manipulation. AI plays a significant role in crypto forecasting, which is the
practice of predicting the future prices and trends of
What is crypto currency cryptocurrencies. It is leveraged in several key areas:
Cryptocurrencies are digital or virtual currencies
underpinned by cryptographic systems. They enable secure

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