Since the inception of Bitcoin, cryptocurrency has become the latest buzzword within business, financial and technology markets, and for good reason. Despite the risk factor, the mere concept of an intangible digital currency with its own distinct value has certainly reinvigorated modern financial sectors.
Like the stock markets, the ever-changing landscape of cryptocurrency has spawned its fair share of questions, for instance:
- Is cryptocurrency worth investing in?
- Which virtual currencies are set to skyrocket and which will crash and burn?
- What are the best methods of measuring a cryptocurrency’s potential?
- What is the future of cryptocurrency and will the bubble eventually collapse leaving behind a sea of disappointed investors?
Arguably, all of these questions relate to the most volatile aspects of cryptocurrency – the fast pace and constant changes of the market. Within days, the likes of Bitcoin can soar to jaw-dropping values before quickly plummeting again to worrying lows, so how can we possibly predict which cryptocurrencies are worth the time, money and effort of investment? Luckily, help is at hand.
A new data-driven tool: Cryptocurrencies: Past, Present & Future, can serve as an indicator of future changes to the cryptocurrency market. Designed to satisfy the inherent curiosity in cryptocurrency after the massive swell in Bitcoin, the brand-new tool uses exclusive mathematical software and cutting-edge algorithms to predict the future of the ten most popular worldwide cryptocurrencies.
Not only does the tool forecast the future value of the ten top digital currencies based upon the historical data of the price – it also predicts the crucial factors of trade volume, market cap and online popularity too – giving a wealth of useful advisory data for potential investors thanks to an exclusive algorithm based upon a Recurrent Neural Network.
The algorithm itself builds predictions based on previous data patterns and the currency’s history and features, meaning that each currency’s inherent volatility is built into the prediction. What is surprising is the results that the algorithm has generated – the standout headlines being that Bitcoin Cash is set to soar while Ethereum is set to plummet.
What about Bitcoin itself, we hear you ask? The latest news about the original star cryptocurrency shows that Bitcoin has taken a battering recently. In fact, the latest updated data reveals that Bitcoin is down by 6.41% in value. Although retaining top spot in the crypto charts ahead of Ethereum and Ripple, the continuing controversies that it seems to be embroiled in could certainly be cause for alarm for investors.
Despite the stiff competition, however, the data suggests that Bitcoin will bounce back. Bitcoin’s resilience has allowed it to survive so far, and it remains the world’s most established cryptocurrency, so it is far more durable than many give it credit for.