coindesk.com/price ---> how accurate is their pricing?

[rodik888]

Question is in the title.
Thanks in advance.

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[pikebu]

Question is in the title.
Thanks in advance.

The information about the price based on the markets, they take it from there and i think it is just information about the price even on every news they claim the information is not suggesting to investment, so the accurating the price depending on your analysis technical to prediction the price, no one media can give us the information with 100% accurate about the price due to sometimes the price can moves up and down.

[ivanst776]

Question is in the title.
Thanks in advance.

Maybe close to accurate as coindesk is a reputable news site but it can never be accurate, cause one sure thing I know is that you can not get the same price everywhere. Even in exchanges, the prices are totally different. The most important thing is to use the price you have at hand or where you need to make certain decision from. just know you cannot get 100% accuracy anywhere as far as I know.

[Jating]

Question is in the title.
Thanks in advance.

It maybe as close as the current price, but we may never know. How did they arrived at the price? There are so many factors that you have to look before having a accurate price. However, since bitcoin is very volatile, there were be no accurate price for it. A good example is the different price of the trading platform. We really don't know how they compute to arrived at those prices, but for them is the correct price. So if you see the coindesk has its price, then that's how they view and should be "accurate" as per their website.

[Bytem3]

If you compare it to CoinMarketCap or CoinCodex you can see it's somewhere in between. Even if its a few $ it's still less than 0.01% difference which doesn't matter much since the prices move way more than regular stock market The difference is with the change% because they use different times. Some use 24hr change others day open change (which is different cos of timezones).

[Almat]

How accurate compared to what? Regardless, the price difference should be almost completely insignificant. Bitcoin value fluctuates so much that you can barely compare them across sites.

[LuanX3]

It really depends on a lot of factors, like how do they weigh each exchange. For sure they will not take all the exchanges and average it. There is likely an evaluation processes they follow that other charts don't. This is the reason why all the charts are most of the time different from each other and makes them all unique since they use different ways and methods.

[European Central Bank]

the information on how they calculate it is here - https://www.coindesk.com/price/bitcoin-price-index/

though it's an old article so it could've changed.

this is a quick tldr -

"Which bitcoin exchanges does the XBP include?

The criteria for inclusion in the XBP are:

USD exchanges must serve an international customer base.

Exchange must provide a bid-offer spread for an immediate sale (offer) and an immediate purchase (bid).

Minimum trade size must be less than 1,500 USD (9,000 CNY) or equivalent.

Daily trading volume must meet minimum acceptable levels as determined by CoinDesk.

Exchange must represent at least 5% of the total 30-day cumulative volume for all of the exchanges included in the XBP.

The stated and/or actual time for a majority of fiat currency and bitcoin transfers (whether deposits or withdrawals) must not exceed two business days."


so it's all live exchanges, and significant exchanges. some price indices include localbitcoins and others. that's relevant but it skews everything else.