CryptoOnchain2024-09-01

Bitcoin price prediction for next month with WaveNet deep learning model and on-chain data

I have previously published posts on deep learning models and using on-chain data to predict Bitcoin. A look at the forecasts of the past months (links below) shows that the models had acceptable and close to reality forecasts. https://cryptoquant.com/insights/quicktake/6673e03793c300737810e2be-Bitcoin-price-prediction-for-the-next-90-days-using-deep-learning-with-Onchain-d In the previous analysis, the probability of Bitcoin price fluctuation was predicted in the current range Here are once again the results of the Bitcoin forecast for the coming month based on cryptoquant's on-chain data. For this purpose, all the data from 2012 to today have been used as features. The output of the wavenet model shows the probability of a relative increase in the price of Bitcoin in the next month,The range of 0.5 shows the area where there is a 50% probability that the price of Bitcoin will be in that range and the range of 0.9 shows the area where there is a probability of 90% of the price of Bitcoin. Therefore, there is a possibility of a relative increase in the price of Bitcoin in the coming month.