About This Bitcoin Price Index
This Bitcoin price chart is a weighted average of several leading cryptocurrency exchanges. It was constructed by Wall Street professionals to create a truly comprehensive Bitcoin Price Index for:
- Robust Historic Index: Full market-wide historic index for an accurate view across all major trading platforms since trading began in early 2010.
- Live Index: Live or End-of-Day (EOD) feed, purpose built for settlement of various derivatives and accurate reference price for general trade & commerce.
The Liquid Index calculates a USD price point for one bitcoin at tick intervals of 5 minutes. Incoming transactions are evaluated carefully for inclusion in the calculation as part of this real-time process.
The volume weighted average of the transactions from each exchange is taken and then the base exchange prices are combined using Brave New Coin’s (BNC) proprietary 3-tier technique.
This is rules-based on the trading history preceding the tick and is designed to allow the Index to be responsive to sudden market movement while limiting the impact of outlier transactions.
Transactions that are not in USD are converted at official current international rates. Currently, this only applies to trades from BTC China for their BTC/CNY transactions & Kraken for their BTC/EUR Transactions.
The calculation parameters & index constituents are re-evaluated at every quarterly review of the BNC Index Steering Committee.
The result is a superior index which portrays the majority of all legitimate bitcoin trading activity globally, for professional and enterprise use.
*Note: this price is not used as an official trading price quote for Bitcoin IRA. To receive an official quote, please contact Bitcoin IRA’s sales agents at 877-936-7175
