A blockchain based machine learning business called GNY has launched what it is calling the BTC Range Report, providing what it reckons are some of the most accurate forecasts around Bitcoin volatility of any platform or service available today.
Extensive testing of the BTC Range Report has delivered a mean absolute percentage error (MAPE) of between 3% and 4% making it one of the most powerful BTC prediction tools in the market, GNY argues. The average of the majority of competitor BTC prediction tools tested by GNY was 10%, but it was as high as 14% for some platforms.
The BTC Range Report uses proprietary machine learning to forecast Bitcoin volatility. The tool is the first consumer facing product offered by GNY and uses specialised neural nets and a custom RSI to generate optimised forecasting for the projected daily range for Bitcoin. In an exclusive partnership with CoinSniper.net, GNY is providing Bitcoin traders a free week’s preview to explore the report and measure the accuracy for themselves.
The BTC Range Report is issued every Tuesday and spans a seven-day period. For the price of just $10, it can be purchased with ETH or GNY tokens, and access is provided directly through the user’s Metamask wallet. After the initial free week trial exclusively at CoinSniper.net the report will be available to purchase on the GNY.io website. Version 1 of the GNY BTC Range Report offers:
- GNY’s daily projected volatility range for BTC as a graph and a table
- a forecast of which day will hold the weekly high and the weekly low
- forecast of daily volumes
- historical daily high and low prediction graph for the last two weeks VS BTC Actuals
- mean absolute percentage error (MAPE) for GNY historical daily high and low predictions VS BTC Actuals for the previous two weeks
How to use the report
The GNY Range Report is not financial advice and should not be taken as that. It is not meant to predict future Bitcoin prices but can be used to track millions of data points to identify patterns in Bitcoin trading.
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The goal of the GNY Range Report is to provide crypto traders with another data point in order to approach trading more rationally and less emotionally. The GNY team say they will continue to evolve the report, share its accuracy, and develop additional reports for other tokens in the future.
GNY is building new technology at the intersection of machine learning and blockchain.
“Our Level 1 blockchain solution is constructed with machine learning requirements built into our core code and data structures,” says Cosmas Wong, GNY CEO “which provides developers that use our platform to create dApps a huge advantage. Building with GNY means that all of your data will be inherently primed for the insights, monetisation opportunities and sustainability goals that only integrated machine learning can bring.”
The BTC Range Report is the first of many ML-powered tools the company plans to release, as part of its forthcoming ML-marketplace, GNY Dataplace, which is launching next year.
GNY Dataplace will provide a structured and secure way to partner with collaborators on machine learning without sharing raw data, build custom ML solutions that can be licensed on the platform, and use GNY’s ML engines to monetise predictions of their own. GNY believes that Web 3.0 will be defined by the ability to move ML out of siloed use, opening the door to collaborative data environments that are safe, scalable, and secure.