A Data-driven Deep Learning Approach for Bitcoin Price Forecasting

Bitcoin as a cryptocurrency has been one of the most important digital coins and the first decentralized digital currency. We propose a shallow Bidirectional-LSTM (Bi-LSTM) model, fed with feature engineered data using our proposed method to forecast bitcoin closing prices in a daily time frame. We compare the performance with that of other forecasting methods, and show that with the help of the proposed feature engineering method, a shallow deep neural network out-performs other popular price forecasting models.