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Cryptocurrency: A Comprehensive Analysis

Part of the Smart Innovation, Systems and Technologies book series (SIST,volume 165)

Abstract

This research is about the interrelation of cryptocurrencies. Mostly the research of cryptocurrency means research of bitcoin. Only some of the researchers have taken other cryptocurrencies into consideration. This study considers three cryptocurrencies namely bitcoin which has rank 1st in the cryptocurrency list, Ethereum which has attracted a lot of hype because of its additional features and applications and litecoin which comes in the category of altcoin and ranked 6th in the cryptocurrency table. Among the two objectives of this paper, the first objective is to study the degree of correlation between cryptocurrencies for each day. And the second objective is to accurately predict the price of bitcoin, and altcoins like ethereum and litecoin in USD with Deep Neural Network (DNN) model. The price data is sourced from CoinMarketCap and Yahoo Finance and the average of the two has been considered. We have considered 4 years of cryptocurrency data to train our LSTM model. Over this timescale, noise can disturb the signal, so we have opted for daily prices.

Keywords

  • Cryptocurrency
  • Bitcoin
  • Altcoin   and Correlation
  • Artificial intelligence
  • Prediction
  • CoinMarketCap
  • LSTM
  • Yahoo Finance

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Correspondence to Damodar Reddy Edla .

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Chatterjee, G., Edla, D.R., Kuppili, V. (2020). Cryptocurrency: A Comprehensive Analysis. In: Zhang, YD., Mandal, J., So-In, C., Thakur, N. (eds) Smart Trends in Computing and Communications. Smart Innovation, Systems and Technologies, vol 165. Springer, Singapore. https://doi.org/10.1007/978-981-15-0077-0_37

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