Bitcoin Forum

Hey guys, i having a question to figure out. The question is all the virtual currency platform price list is grab where which website ? Like those website/platform okcoin.com , huobi.com and coinmarketcap . I'm curious how they grabbing all the price list from. Sry if i write the wrong grammar.

I think you are talking about the order book on the exchanges?

They don't grab the prices from anywhere. Those books are filled with orders from the users. If user A wants to sell a bitcoin for 610 USD, but user B only wants to buy a bitcoin for 605 USD, no sale will be made. The users can fill the gap by placing orders so they get closer to eachother, and at one point someone may decide to simply buy from user A at 610 USD, or sell to the one buying for 605 USD.

The exchange users actually set the price instead of grabbing. Remember, you cannot buy a bitcoin if nobody is selling one to you. The same holds for selling if nobody is buying.

okcoin.com and huobi.com are two of the exchanges so they don't grab the price from anywhere. they produce the price themselves from people buying and selling in their site.

coinmarketcap however is a list that is only providing prices, they take the prices from exchanges like okcoin.com and huobi.com, ..... and they do it through each of these sites API calls and then list it in their site with charts and ...

Hi, maybe i dint mention well. Actually i'm not talking for order book and i just curious how their set the current price for coins.

I think as you said they produce the price themselves from people buying and selling in their site is a record for chart history. Thanks for info. Anyway, do you know the their live price is also produce from people trade in their site ?

that is what he is trying to explain.
the price is not set by the exchange site (trading platform) but instead it is set by the users (investors) also known as demand.

i suggest you read more about the meaning of supply and demand: https://en.wikipedia.org/wiki/Supply_and_demand
wikipedia most probably has the translation to your language also.


the live price should technically be live, so yes it is the updated value.

Exchanges get prices from the transactions on their platform. That's why if you Compare exchange prices like BTC-E to C-Cex, you will notice a small difference.

Thank you so much , finally i get what you guys said. At the same time i realize that if the bitcoin price drop or rise suddenly the trading platform should have their own way to prevent this issue. Any idea for this issue ? :)

Yes, i get it.Thanks ;)
And one more question is how their make the pricing almost same is market price (like coinmarketcap) if the price drop or rise for a huge distance.

No, they are not making. It is happening. Traders watch multiple markets and they might go for trading across exchanges also if they find gaps between exchanges. So, prices levels will be (approximately) same across exchanges over time after any huge fluctuations too.

Oic, thanks a lot kevin  :-*

The price of altcoins is determined by the demand of users in the exchangers, not by the exchangers themselves. You need to read more in the trading section to know more informations about this.

The price is not determined by the exchangers, the demand and the chart of the altcoin determine its price usually. May be you can find more about this on the trading section.

The price is set by supply and demand. Individuals are offering bitcoin for a price they decide they want to sell for and potential buyers are saying what they will buy it for. It's just like the stock market.

an exchange platform site gets its price from the demand and supply done by users like if more and more people buy A coin then its price will be effected either low or high but in this case it will most probably rise i am not a trader but thats how all this works

you can read this topic here:

https://bitcointalk.org/index.php?topic=1623809.msg16360633#msg16360633

I posted several services that monitor exchange prices
they listen exchanges' API and show results in real time,exchanges themselves get prices from the traders and all of the transactions at their own platform
there are several large ones that,basically,form the average bitcoin price you see
some are trendsetters like Huobi or Bitfinex but it all depends on the traded volumes
if there are 100.000 coins traded at BTC-E,for example,it would influence the price not only at the btc-e itself ,but across the market,too

since there is no accuracy for the price list at all the site for altcoin . further i will advice to visit coinmill.com , this is the best site for the current stable price conversation for every digital currency and fiat currency .