How to correctly value a coin in Bittrex (using USDT)?

Hi guys -

I'm having trouble figuring out how to correctly value a coin in Bittrex. I.e. if I have 10 NEO, what is the USD(T) value of that coin right now in Bittrex?

Assumptions
1. I am after the USD(T) value of the coin in the USDT-BTC market, *not* the value Bittrex takes from the CoinDesk API to value BTC.
2. I am using two markets to make the calculations: BTC-NEO and USDT-BTC.
3. I am after the real USD(T) I could get now, not the top of what the bids (buyers) are currently offering (which do not necessarily get filled).
4. I am not interested in the USD value of the coin, using USD(T) as the closest realizable proxy.

How I think it works

The trick I think is to multiply the currently held coin’s BTC ask price (using the BTC-COIN market) and multiply by the BTC’s ask price in the USDT-BTC market as that is the best possible price you can buy from the sellers (the asks). Ie that is the top of the order book for people who are offering to sell their USD to you.

You can’t use the bid price for valuation because there’s no guarantee anyone will pay that price. And there’s always a gap between asks and bids aka the spread.

Does that make sense?

Please advise.

Thanks,

-Mrbittt