Would it be possible to create a bitcoin bot that can predict the price?

[BrolySSJ]

I agree partially in the sense that even if bot is been used to predict the correct calculation analyzed, what of human control, will bout be able to depicts or detect that. Although its an edge reason being that it will be faster and at least dependable for some percentage

Human control that play a huge role in determining the price of cryptocurrencies. Because it is at the end of the day the human that determine whether the supply and the demand of the coin is large. I think that it will be almost impossible too cold in the human aspect because it is hard to predict human behaviour. However, the bot will be able to help us, and who knows maybe with the predictions that are being made it will be able to influence human behaviour as well.

 

[Iamsodex]

At this stage in life I believe nothing is quite impossible, it may not be achieved now but it's definitely not impossible. All that is need is to incoporate the necessary data's and feed it to the AI not to process, being a bit, it would easily take lots of factors even to the smallest details into consideration before giving output

 

[BrolySSJ]

At this stage in life I believe nothing is quite impossible, it may not be achieved now but it's definitely not impossible. All that is need is to incoporate the necessary data's and feed it to the AI not to process, being a bit, it would easily take lots of factors even to the smallest details into consideration before giving output

I completely agree with you. Technological advancements have made a rapid jump in the last few years and the Invention of artificial intelligence is one thing that has helped a lot in terms of trading bots and so forth. Like you said this is not something that would be considered to be impossible if you have the right data in order to be able to do it. There's a lot that needs to be considered when it comes to actually developing the system however I can pick with the right group of people put together under a program, that it can become a reality at a much slower rate

Post automatically merged: Jan 25, 2021

*sooner rate

 

[Alexandoy]

Yes, it is possible to create not just a bot but even a program or app that can predict the price of the Bitcoin on the next day or on the next 2 days. But you have to satisfy all the requirements particularly the needed data to evaluate in coming up with the prediction. First, you have to define the elements or factors that affect the pricing of the Bitcoin. Usually it is the law of supply and demand that dictates. Let's say those 2 are the only factors that affect the price therefore you have to know where to get the amount of supply and the amount of demand. Your bot can make an accurate prediction with those data.

 

[joy101]

is possible if you have the right resources and knowledge, looks like bot is great for updating cryptocurrency bot can be possible to create it can be very hard to create a bot that can predict the bitcoin price.

 

[BrolySSJ]

Yes, it is possible to create not just a bot but even a program or app that can predict the price of the Bitcoin on the next day or on the next 2 days. But you have to satisfy all the requirements particularly the needed data to evaluate in coming up with the prediction. First, you have to define the elements or factors that affect the pricing of the Bitcoin. Usually it is the law of supply and demand that dictates. Let's say those 2 are the only factors that affect the price therefore you have to know where to get the amount of supply and the amount of demand. Your bot can make an accurate prediction with those data.

Yes these are important factors in makign a good prediction. This is why I say that the bot needs to have a level of artificial intelligence because the news of the supply and demand are that which is reported online through the cryptocurrency news channels and therefore when this happens they can then take this information automatically into the bot and update the prediction accordingly. It will be a great way to trade and invest.

 

[Akinwale701]

This question in the title may seem a bit far fetched, however considering the advancements that we have made in technology up until this point I don't think that this is all too far off from what we can possibly achieve. If you think about it, the possibility of creating a bot that can perform all the indicator calculations and make valuable precisions on the price of Bitcoin and forecasts may be possible.

At the moment there is crypto analysts that make this decision, but the advantage of a bot is that it will be able to take in more information and handle more information at a faster speed, and pairing this with artificial intelligence may be the perfect crypto bot.

What do you guys think about this? Do you think that it may be possible?

Whether this will be possible Or not is what I can't say as I'm a newbie in the field of Cryptocurrency and other digital currency. but as much as I know about Bot, I do not think a bot is able to predict what is gonna happen on a particular incident especially concerning a Cryptocurrency like bitcoin which is decentralized.

 

[BrolySSJ]

Whether this will be possible Or not is what I can't say as I'm a newbie in the field of Cryptocurrency and other digital currency. but as much as I know about Bot, I do not think a bot is able to predict what is gonna happen on a particular incident especially concerning a Cryptocurrency like bitcoin which is decentralized.

Of course there's no bot that will be able to accurately predict what the future price of a cryptocurrency such as bitcoin will be, however what can happen is at the program can use various algorithms and so forth in order to be able to try and make a calculated guess over what the price could look like in the coming weeks. There's no 100% accuracy in any prediction that we make because there's a lot of uncertainty however you can make a prediction to a certain degree.

 

[Kamon c4]

This idea is very good. The volatility of bitcoin isn’t computer programmed it’s based on demand. As good as this sounds, bitcoin prediction can never be 100%. Such bot wouldn’t be 100% precisive.

 

[Riniyke]

I knw it's not far from creating something like this but for me creating a bitcoin bot that cam predict the price will be really awesome and It will also help traders in trading.

 

[LaylaG]

There are a lot of bitcoins bot that is operating in the trading platform of cryptocurrency and most of this bot can predict to at least 8o% accuracy but sometimes they are not always reliable as most of their prediction are always based on the prices action and not based on the economic purpose of a nation.

 

[mcjerry]

It is very possible, but the results will not be 100% accurate. The bot developer must have knowledge in crypto currency. He must know the different analysis tools that are available and how to use them to study the market. He must be predicting on his own before now putting it into bot

 

[ansahweh]

For me i don’t think so because market is dynamic and repetition of price action is not sequential. Using mathematical formula to predict price action can’t be feasible. We can only keep using the statistical tools at hand and hope the combination works.

 

[Hasan Raza]

Definitely dear you explain in good manner.Although it is possible to create a bot predict price for crypto, it cannot be made perfectly, because global changes will affect the price of crypto, so bots need to be updated all the time, so the role of humans is still needed to predict crypto prices that's why we always need experts for prediction.

 

[Trojan8]

I think this is actually possible especially since we have similar bots for Forex. You can introduce the bot to some time series analysis. With this you time series analysis it can be able to predict the future changes in price. So yes I do believe a bitcoin bot is possible that is if it is not already in existence.

 

[jimmann247]

A bot to predict the price of bitcoin might be impossible for now, except you feed the bot with the information you have at hand, which you can determine the price by yourself after getting such data, bot only works according to what's imputed in the bot.

 

[Henrywrites]

Yes, We can do a time series analysis and feed the data into any standard statistical model. To enhance it more, we can add other attributes like social media score, google trends, etc.

If traders are able to create a bitcoin bot that will be able to predict the price of Bitcoin correctly over a period of time, then it means that many will become millionaires over night. The thing with this move is that there are traders that will invest all they have just to gain during the time of Bitcoin appreciation and that won't be good for trading and predicting trends.

 

[Setho]

If you are going to create a not to predict bitcoin price, it is only going to be an artificial intelligence tool and most likely to use past data for case of references. This won't be accurate because bitcoin price is mainly controlled by real world happenings here and there, and most important the demand. So how is the bot going to know when someone needs bitcoin.

 

[Shahzaib37]

This question in the title may seem a bit far fetched, however considering the advancements that we have made in technology up until this point I don't think that this is all too far off from what we can possibly achieve. If you think about it, the possibility of creating a bot that can perform all the indicator calculations and make valuable precisions on the price of Bitcoin and forecasts may be possible.

At the moment there is crypto analysts that make this decision, but the advantage of a bot is that it will be able to take in more information and handle more information at a faster speed, and pairing this with artificial intelligence may be the perfect crypto bot.

What do you guys think about this? Do you think that it may be possible?

It think it is not possible make this kind of bot if it create then we get a limited Bitcoin and they they may tell a wrong price this technology may not work in this field and money may have lost.

 

[khaled]

Value expectation relies upon such countless factors and challenged by those holding an excessive number of cryptos. These controllers are called Whales, they have the influence to make a bull run or bearish value fall. Bitcoin isn't cash. It's a distributed electronic money network. You need to utilize bitcoin to get to that network. On the off chance that more individuals utilize the organization, the cost of bitcoin will go up. In the event that less individuals utilize the organization, the cost of bitcoin will go down.