What is the Price of Bitcoin, or its Market Cap…. exactly?
Published in
2 min readSep 17, 2018
This is perhaps a too of a granular look at Bitcoin’s price valuation & market cap data; hence I apologise for the clickbaity title… as the article will not actually tell you anything of substance about Bitcoin’s valuation unless you are doing data analysis OCD-style.
While searching for reliable / accurate data to incorporate into other metrics, there were a few details which stood out:
- CoinMarketCap provides a reference daily market cap estimation using as basis the opening price (UTC)
- This leads to a 1 day… lead, discrepancy when comparing it with what can be taken as the daily price of Bitcoin, based on the closing price.
- The Value for the closing price is closely mirrored by the daily Bitcoin’s valuation estimated by BlockchainInfo.
- The average of the CoinMarketCap daily closing price and that of daily price on BlockChainInfo would be a sensible way to standardise the estimation of Bitcoin’s daily valuation.
- BlockChainInfo provide daily market cap data which for the most part does not lag by a day. However, as this is not always the case, the equation bellow could provide the most accurate/timely estimation… if such of a granular resolution is needed. It is represented by the red line:
Market Cap Adjusted on the two charts.
Reference data sourced from:
Thank you for your patience!
