The technology of artificial intelligence (A.I.) has the potential of transforming many aspects of humanity’s life, including the existing financial operations. The emergence of digital currencies, for instance, bitcoin, in 2008 presented a question of analyzing this new financial market. This paper aims to review the application of A.I. in the context of blockchain finance by examining scholarly articles to determine whether the A.I. algorithm can be used to analyze this financial market.
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The widespread use of cryptocurrencies and the fact that they remained popular for over ten years facilitates the need for developing prediction models that will allow one to use these currencies as investments. A.I. technology has been developing for decades and has been a topic of discussion for many. It has implications for presenting an efficient analysis and presenting one with a practical evaluation of this financial market. However, the complexity of Blockchain and the nature of this technology makes it impossible to analyze and predict using the standard financial analysis models. Therefore, behavioral factors and other elements should be accounted for in the successful algorithm.
This research aims to examine peer-reviewed articles and determine the applicability of the A.I. algorithm and data mining and its implications for the cryptocurrency market. The amount of data generated by exchange services and activities allow researchers to analyze behavior and trends and come up with valid prediction models. An essential factor that will be examined in this paper is emotions as a critical element in the decision-making process of individuals. In this regard, the correlation between social media and news outlets and its impact on the fluctuations of cryptocurrencies will be examined as well.
Thus, the main focus of this paper is blockchain technology, A.I., and cryptocurrencies. Additionally, the ability of A.I. to assess and evaluate this financial market in order to boost is one of the objectives. Understanding different models of A.I. and their results in regard to cryptocurrency market predictions will be explored. Next, a test with the use of historical data will be conducted, and results, as well as their implications will be presented. In general, this paper should help develop an ethical framework for decision-making in the context of A.I. facilitated cryptocurrency market analysis.
The fact that A.I. algorithms are free from bias that data analytics can suffer from presents an implication for applying this technology to make accurate forecasting for the cryptocurrency market. This research aims to answer the question of plausibility and validity that A.I. has in regards to financial market analysis. Additionally, the ethical implications of this technology will be examined as part of the study.
In order to locate answers for the questions that this paper aims to answer, peer-reviewed articles from scholarly journals that focus on A.I., finance, cryptocurrency, and Blockchain were examined. The reports present a large number of data, including background information and specific studies that use A.I. to make financial predictions. Thus, this paper will offer an assessment of the definition of Blockchain, bitcoin, and A.I. Additionally, the connection between these elements will be explored. The limitations of Blockchain will be investigated as well as other aspects of this technology. A variety of models and strategies of A.I. application will be reviewed in order to determine a successful strategy for A.I. implementation. This information should provide a cohesive understanding of the cryptocurrency market, and the implications of A.I. enabled forecasting.
The following paragraphs will focus on exploring the research works that examine various aspects of Blockchain and A.I. It should be noted that the development of a framework that can be used to analyze the financial market of cryptocurrencies is critical due to the significant impact of blockchain technology on the economic and social life of people globally. Machine learning algorithms that will be discussed in this paper are an essential element of A.I. technology, and some examples include neural networks and deep learning. Due to the current popularity of cryptocurrencies and their impact on the economy on a global level, a need for forecasting the trends and specifics of value changes has arisen.
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