Incorect price on Coinmarketcap.com

[zhekinsp]

Has anyone seen this?

On coinmarketcap, historical value of bitcoin on 6th of Oct 2019 is 7,988.16 for Close.

Closing price for same date (checked on tradingview on multiple exchanges, and Bitstamp directly) was 7860 usd.

That's almost 2% increase for coinmarketcap. Wonder if they purposely screwing people...

So they are manipulating bitcoin prices?

Coinmarketcap is using the average value for showing prices and it maybe differ from the other sources.

Intentional price difference will be shown to altcoins with huge difference to bump or dump that coin.

[Kyraishi]

Really ? I was checking the cryptocurrencies from there all the time. If they are really faking prices, something should be done about it. There were some news about coinmarketcap faking volumes. If that is true, I think this is correct too.

I don't think there would be a point faking volumes/prices for coinmarketcap really, there are no ways to buy BTC or sell BTC on their sites, it's more like a catalog of exchanges and prices, not a service provider.

Anyway, I'm assuming it's likely due to them getting prices off other exchanges, or just not updating the prices in an hour or 2 (BTC prices are so volatile, they could have changed by like 2 percent since the last hour).

Anyway, I'm assuming it's a small issue and it'll probably get fixed in a couple hours.

[Darooghe]

Exchanges execute Orders/Prices on their own platforms, they are not in sync with other exchanges. It's the reason arbitrage trading exists , means buying cheaper on one exchange because it's there is profit to sell on a other exchange. Every exchange is used by different people. it has different volumes, buy and sell orders, and different hours with the highest volumes. CoinMarketCap and other cap sites only report on them, and usually report averages. The only "real" prices are on exchanges simply by supply and demand. Basically never trust coinmarketcap for accurate price action, especially for Shitcoins.

[Darker45]

Has anyone seen this?

On coinmarketcap, historical value of bitcoin on 6th of Oct 2019 is 7,988.16 for Close.

Closing price for same date (checked on tradingview on multiple exchanges, and Bitstamp directly) was 7860 usd.

That's almost 2% increase for coinmarketcap. Wonder if they purposely screwing people...

There are always discrepancies with coinmarketcap.com's data. This is not the first time, nor will this be the last one. If you are certain that it is not due to its data being average prices among all CMC listed exchanges, there's definitely something wrong with it. Anyway, there's no big deal to this really. For sure, you will not base your trading on the prices on coinmarketcap. Better use your preferred trading exchange when checking the actual traded price.

[Kyraishi]

To be honest, CMC has been accused of manipulating prices and display fake volume several times so i wouldn't be surprised if they messed with something yesterday.

I had read about it, was it true at the end? I don't really see the kind of manipulation that can be done by changing prices on CMC,

Yes, there were reports before on how they manipulated the price few times and how buggy they were. CMC isn't really a viable source of price but if you have been used to it, don't rely on their stats and always check other sources for volumes too.

CoinMarketCap’s Fake Data Problem; Facebook’s Libra Scams
Fake Trading Volume on Exchanges and Coinmarketcap

Just saw this post, I guess I am incorrect then. I'm still a bit confused about why a platform such as Coinmarketcap (which isn't even an exchange themselves) would advertise false prices on certain coins?

The articles are about the faked volume on exchanges that are listed on Coinmarketcap, which isn't really their problem (Coinmarketcap is here to provide you with a list of stuff), and if the exchanges are reporting that volume to CMC, what can they do about it?

It'll be a problem if they accepted payments in order to fake volume.

[Eugenar]

Has anyone seen this?

On coinmarketcap, historical value of bitcoin on 6th of Oct 2019 is 7,988.16 for Close.

Closing price for same date (checked on tradingview on multiple exchanges, and Bitstamp directly) was 7860 usd.

That's almost 2% increase for coinmarketcap. Wonder if they purposely screwing people...

we shouldn't always rely on the CMC or coinmarketcap. If you are a trader, you should better compare prices of a certain cryptocurrency on different exchanges. Not really saying that the CMC is misleading, but sometimes we couldn't avoid having issues with the systems. Most of the time, CMC is providing helpful volumes. And I don't have any idea why they need to manipulate volumes as they don't have their own exchange.

[CryptoBry]

We already know that data in CMC is not guaranteed to be reliable and maybe because they are just the receiving end of those feed to them from  the exchanges and it is not their job to do an investigation before showing those data to the public. If one is a trader then the best thing to do is to go the exchanges and see the real data and use them instead. There are times when discrepancies can happen but 2% difference can be nothing and can easily be rectified by the viewer himself. Me, I am just using CMC as a guide to know if my favorite coins are pumping or dumping and usually prefer to see the exact price in the exchanges where I am doing business. I am also aware that CMC has been accused of manipulations by some and that can be another reason why we should not rely on everything it is dishing out.

[Astvile]

CMC isn't accurate at all when it comes to bitcoins price, they intently changing the price to trick lazy people who don't regularly check prices on each big exchange. CMC has alot of issues of price manipulation soo I can recommend you to not base on this website if you're looking for bitcoins price.

[Wexnident]

To be honest, CMC has been accused of manipulating prices and display fake volume several times so i wouldn't be surprised if they messed with something yesterday.

Totally agree. With how much accusations CMC has received, seeing one or two reports that say they manipulate the prices isn't really annew thing anymore.

OP should probably check other exchanges instead of CMC. Seeing that a lot of accusations were already made about it, continously using the same site would just make the data you receive less trustworthy so might as well use another exchange to view the prices. Besides, bitcoin price doesn't necessarily showbthe same prices across exchanges. There would naturally be some discrepancies that could be found.

[Rodeo02]

Has anyone seen this?

On coinmarketcap, historical value of bitcoin on 6th of Oct 2019 is 7,988.16 for Close.

Closing price for same date (checked on tradingview on multiple exchanges, and Bitstamp directly) was 7860 usd.

That's almost 2% increase for coinmarketcap. Wonder if they purposely screwing people...

So they are manipulating bitcoin prices?

Coinmarketcap is using the average value for showing prices and it maybe differ from the other sources.

Intentional price difference will be shown to altcoins with huge difference to bump or dump that coin.

i dont think they can manipulate price of exchange  Lol. coinmarketcap is use only to see price of each coins there must be a difference in price of each exchange, OP should check where  exchange cmc get that price info in that time.

[jossiel]

Just saw this post, I guess I am incorrect then. I'm still a bit confused about why a platform such as Coinmarketcap (which isn't even an exchange themselves) would advertise false prices on certain coins?

The reason because they are the most visited crypto market cap rankings website that's why there's an advantage for them to do that. We don't know on why they do that.

The articles are about the faked volume on exchanges that are listed on Coinmarketcap, which isn't really their problem (Coinmarketcap is here to provide you with a list of stuff), and if the exchanges are reporting that volume to CMC, what can they do about it?

This is more on the technical side.

It'll be a problem if they accepted payments in order to fake volume.

As I've mentioned, we don't know.

[Distraction]

I wonder why CoinMarketCap does that. They have so many users and popular among people. It is interesting to see that CoinMarketCap gives false information, despite being used actively every day.

[zhekinsp]

Has anyone seen this?

On coinmarketcap, historical value of bitcoin on 6th of Oct 2019 is 7,988.16 for Close.

Closing price for same date (checked on tradingview on multiple exchanges, and Bitstamp directly) was 7860 usd.

That's almost 2% increase for coinmarketcap. Wonder if they purposely screwing people...

So they are manipulating bitcoin prices?

Coinmarketcap is using the average value for showing prices and it maybe differ from the other sources.

Intentional price difference will be shown to altcoins with huge difference to bump or dump that coin.

i dont think they can manipulate price of exchange  Lol. coinmarketcap is use only to see price of each coins there must be a difference in price of each exchange, OP should check where  exchange cmc get that price info in that time.

In the past CMC has been accused of price manipulation but here is something different.People uses CMC to check the prices but once they enter into the exchange they don't check price as much since they checked earlier on trusted site like coinmarket cap which was the reason why they used to manipulate the prices.

[Wysi]

I wonder why CoinMarketCap does that. They have so many users and popular among people. It is interesting to see that CoinMarketCap gives false information, despite being used actively every day.

Coinmarketcap is the first thing which I check one I wake up as it's a trustable source for years but display of false information  is the least expected thing and no one would have even imagined this in their dreams.  It's really disappointing to see a most trusted site misguided it's users.

[Aliensquare]

Thanks for all your comments.

To bring more food for thought, attached are 2 printscreens:

- one showing the price from CMC, meaning 7988.16 (price at close on Oct 6)
- one showing Tradingview price of 7860, the close of Oct 6

Anyone can make same check I shared.
 
Their incorrect prices affect a very high number of viewers: the ones who are checking the price live, and also ones that are checking the historical data they provide.

Yesterday was almost 2% difference, tomorrow may be 5%. I don't accuse them to be intentional, but they're providing false information, and that must be fixed. Please raise more awareness.

https://ibb.co/Jz0WVFW
https://ibb.co/6YsK02s

[Vaculin]

Thanks for all your comments.

To bring more food for thought, attached are 2 printscreens:

- one showing the price from CMC, meaning 7988.16 (price at close on Oct 6)
- one showing Tradingview price of 7860, the close of Oct 6

Anyone can make same check I shared.
 
Their incorrect prices affect a very high number of viewers: the ones who are checking the price live, and also ones that are checking the historical data they provide.

Yesterday was almost 2% difference, tomorrow may be 5%. I don't accuse them to be intentional, but they're providing false information, and that must be fixed. Please raise more awareness.

Sorry but I can't see your attachment, please double check it.
With regards to the difference, I think it really varies on their reference, personally, I am not relying too much with coinmarketcap if I like to get the most accurate data as I have noticed in our factors like trading volume which is not exact compared to the actual volume in a certain site.

If we like to be fully updated, let's just look at the price to the exchange to where we are trading.

[pooya87]

Their incorrect prices affect a very high number of viewers: the ones who are checking the price live, and also ones that are checking the historical data they provide.

coinmarketcap.com is a terrible site mainly because of the way they are ranking coins (based on market cap) and have other misleading rankings such as "dominance" but all the data they provide is accurate. whether some people don't understand it is their own fault.

Yesterday was almost 2% difference, tomorrow may be 5%. I don't accuse them to be intentional, but they're providing false information, and that must be fixed. Please raise more awareness.

did you even read any of the replies?!

[joinfree]

You have to notice that  CMC is not an exchange  but they  have integrate their system  with allot of exchanges and traders always predictor the price. so the fact CMC is showing 7890.00 btc does not mean traders in your exchange want are buying at  that  price.  you can search  on  CMC to see exact exchange buying at  that price.. 

You you can check out here https://coinmarketcap.com/currencies/bitcoin/#markets

[timerland]

I think this is pretty scummy and there's a possible incentive for this. Does anyone else see a buy and sell crypto button underneath their favorite crypto-currencies pages? It looks to be sponsered by Gemini right now


Could this be a pretty small attempt to try to manipulate prices of BTC so their sponsers are able to maximise their profit margins and in turn coinmarketcap gets a higher fee?

Could be interesting.

[boltz]

You can say that coinmarketcap has incorect prices but also they are behind with the price like 1 hour and also if on some exchanges the prices dropeed in 7800~$ that doesn't mean cmc will auto-update that prices recording to that exchange as their pairs is general and not only on 1 exchange so don't blame them.

Whenever you want to check the price of bitcoin just click on the price and check every exchange in order too see when it sells lower and go there if you want to trade on risky exchanges. For sure they have some shady prices on some coins and sometimes they list coins that should not be listed but its their policy, if we don't like it we don't use it. Coingecko has similar option,  I check it from time to time too when cmc don't provides the info I do need.