From its initial worth of only about USD$0.08 (RM0.33) a unit, the price of bitcoin has risen to an all-time high of over US$10,000. With this rise, more and more people, believers and skeptics alike, are preparing for the inevitable burst of the Bitcoin bubble. If you’ve sworn allegiance to the former camp, then you can go about doing other things while you leave the worrying to Bitcoin Bubble Burst.
Bitcoin Bubble Burst was first presented as an app at the Disrupt Berlin hackathon that watches for price changes and news events that could affect prices and alerts you in real time. While there are a lot of others that to the same, Bitcoin Bubble Burst boasts the ability to give you adequate warning when something is about to happen. This is all made possible using machine learning that’s trained on data linked to bitcoin price changes – things like patterns in trading and key news items like a country banning bitcoin or taxes proposed on cryptocurrency income. The AI keeps track all these, and when it reaches a certain threshold of importance, you’ll be notified via email.
The creators claim that it is now accurate enough to predict changes in prices to within a few dollars, and will only get better with more training data. More notification methods are also in consideration, as well as the ability to allow users to determine the threshold at which they will be notified.
The idea that there’s someone out there keeping an eye out on bitcoin prices is great, but don’t take this as an endorsement to go all out on it. The app itself is called Bitcoin Bubble Burst, after all, and in our opinion, the ‘bubble’ bit in the name deserves special emphasis.