What is the Price of Bitcoin, or its Market Cap…. exactly?

cryptopoiesis
Sep 17, 2018 · 2 min read

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:

Blockchain.info

CoinMarketCap.com

BitcoinVisuals.com

Thank you for your patience!

Unconfiscatable

altcoin minimalist publication @ the cœur of decentralisation

cryptopoiesis

Written by

Biomed student, unabashed creature of the lab & Dabbler in Chief: ceramics, painting, creative writing, video prod, graphic design, trading, Bitcoin maximalist

Unconfiscatable

altcoin minimalist publication @ the cœur of decentralisation

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