Can you predict the price of bitcoin using a linear regression model?

This may very well be my last post on predicting bitcoin prices (for a while anyway) becauseIi have covered several different models that can be used to make these predictions. I decided to make one more post and discuss what is perhaps one of the simplest machine learning models, linear regression.

Linear regression is a type of supervised machine learning algorithm that learns from labelled datasets and maps the data points to the most optimised linear functions, which can be used for prediction on new datasets. Linear regression is transparent, easy to implement, and serves as a foundational concept for more complex algorithms.

The formula for linear regression can be seen below:-

Where:-

Y is the dependent variable, plotted along the Y axis

X is the independent variable, plotted along the X axis

A is the intercept

B is the slope

The system architecture of the model can be seen in the diagram below:-