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49 sats \ 0 replies \ @cointastical 13 Jun 2022 \ on: Where does the exchange rate for BTC/USD come from? bitcoin
Where is the authoritative source for the Bitcoin price?
Well, there isn't one.
So differences in price for bitcoin occur at different marketplaces ... just as the price of a tomato is different at different grocery markets.
There are various methods that attempt to consider various marketplaces to come up with a more sane, commonly available price.
For instance, Coindesk has their "Bitcoin Price Index", which they suggest the symbol XBP, and the method it is calculated is shown here:
- https://www.coindesk.com/price/bitcoin-price-index
- https://api.coindesk.com/v1/bpi/currentprice.json
CoinDesks's BPI is used by a number of financial media (e.g., Bloomberg/WJS) and trading products.
There's also the BraveNewCoin's BItcoin Liquid Index (BLX):
- https://bravenewcoin.com/enterprise-solutions/indices-program/blx
The BLX is used by NASDAQ.
The CME has its own "prices", BRR (Bitcoin Reference Rate) -- the "closing price" used for daily settlements, and BRTI (Bitcoin Real-time Index):
- http://www.cmegroup.com/trading/cf-bitcoin-reference-rate.html
- https://www.cmegroup.com/education/courses/introduction-to-bitcoin/introduction-to-bitcoin-reference-rate.html
- https://www.cmegroup.com/trading/cryptocurrency-indices/bitcoin-reference-rate-and-real-time-index-specs.html
MVIS:
- https://www.mvis-indices.com/indices/digital-assets/mvis-cryptocompare-bitcoin
TradeBlock (XBX):
- https://tradeblock.com/markets/index/xbx
BitcoinAverage:
- https://bitcoinaverage.com
CoinTelegraph:
- https://cointelegraph.com/bitcoin-price-index
CoinMarketCap:
- https://coinmarketcap.com/currencies/bitcoin
Messari OnChainFX:
- https://messari.io/asset/bitcoin
Nomics:
- https://nomics.com/assets/btc-bitcoin
Winkdex:
- https://winkdex.com
NYSE (NYXBT):
- https://www.nyse.com/quote/index/NYXBT
Others:
- https://rapidapi.com/search/bitcoin
Charts:
- https://www.hongkiat.com/blog/websites-track-bitcoin-value
- https://bitinfocharts.com/comparison/bitcoin-price.html
- https://www.tradingview.com/symbols/BTCUSD
- https://data.bitcoinity.org/markets/price/30d/USD?c=e&t=l
Basket / Altcoin indexes:
- https://www.datadriveninvestor.com/2018/12/06/a-guide-to-major-cryptocurrency-indexes
- https://www.bitwiseinvestments.com/indexes/methodology
Related:
- https://hackernoon.com/digging-deeper-into-cryptoassets-data-and-visualization-resources-8a922b62d51c
- https://www.bitpanda.com/academy/en/lessons/what-determines-the-bitcoin-price