Post
Topic
Board Project Development
Re: BitcoinAverage.com - independent bitcoin price
by
marketGuy
on 04/01/2014, 22:16:25 UTC
I really appreciate your website but i think some of your chinese markets show completely wrong numbers for the volumes. For example fxbtc shows a 24h volume of 22620.9 BTC probably from here: https://data.fxbtc.com/api?op=query_ticker&symbol=btc_cny

But that seems completely unplausible. According to bitcoin-analytics their complete order book is only 1200k CNY and 180 BTC. In the chart on the homepage you can actually see very small trades and a daily volume of about 490 BTC. So maybe that 22620.9 from their api is the 30 day BTC volume. You should clarify that or remove it from your computation because now it is by far the largest contributing market.

And do we know whether we can trust data from okcoin now? They had been accused to fake their volume and are still reporting far more 24h volume than even mtgox/bitsamp/btce. That's also not plausible.

Maybe you could add a switch to remove suspicious markets from price computation.