Introduced by Olabode Faleye, Kazuomori Lewis, Vicente Izquierdo and Pedro Pablo Correa
Bitcoin is one of the newest financial instruments to take the world by storm. This decentralized digital currency has been experiencing unprecedented levels of growth in recent months, proving itself as one of the most lucrative investment opportunities of our generation. As of Jan. 16, it was up more than 1000 percent.
Its extreme volatility, however, makes it difficult for even seasoned investors to predict market trends and maximize their return on investment. As a result, a team of UC Berkeley students from Data-X aimed to develop strategies to predict market trends to inform even a novice investor when it is best to buy, sell or hold Bitcoin with their new tool, CryptoTitans.
To develop informed trading strategies, the team used Bayesian Regression to predict prices on the minute scale, Recurrent Neural Networks for prediction on a day scale and the more traditional Bollinger Bands for trading strategies in accordance with long-term market trends. With these different approaches, the tool could help investors with all levels of experience to maximize the profits they make from Bitcoin.