# Using Sentiment and Technical Analysis to Predict Bitcoin with Machine Learning

arXiv: https://arxiv.org/abs/2410.14532 · HTML: https://mlsanity.com/paper/2410.14532/

## Key facts

- Cited by 1 papers in the map (data through 14 Oct 2026).
- Builds on 1 of its 5 references that are in the map.
- First posted on arXiv 18 Oct 2024.

## Builds on (most cited first, 1 of 1)

- [XGBoost: A Scalable Tree Boosting System](https://mlsanity.com/paper/1603.02754/) (2016)

## Built on by (most cited first, 1 of 1)

- [An Adaptive Multi Agent Bitcoin Trading System](https://mlsanity.com/paper/2510.08068/) (2025)

## Abstract (arXiv)

Cryptocurrencies have gained significant attention in recent years due to their decentralized nature and potential for financial innovation. Thus, the ability to accurately predict its price has become a subject of great interest for investors, traders, and researchers. Some works in the literature show how Bitcoin's market sentiment correlates with its price fluctuations in the market. However, papers that consider the sentiment of the market associated with financial Technical Analysis indicators in order to predict Bitcoin's price are still scarce. In this paper, we present a novel approach for predicting Bitcoin price movements by combining the Fear & Greedy Index, a measure of market sentiment, Technical Analysis indicators, and the potential of Machine Learning algorithms. This work represents a preliminary study on the importance of sentiment metrics in cryptocurrency forecasting. Our initial experiments demonstrate promising results considering investment returns, surpassing the Buy & Hold baseline, and offering valuable insights about the combination of indicators of sentiment and market in a cryptocurrency prediction model.