Introducing Bitcoin Street Price
Today, I’m pleased to announce the launch of the Bitcoin Street Price, a new index that tracks Bitcoin as it trades on peer-to-peer and over-the-counter exchanges. The goal of the index is to closely approximate the real-world cash value of Bitcoin.
Technical Details
Index values are computed every 15 minutes, reflecting the slower speed of over-the-couter trades. Trades are both volume- and time-weighted, with larger and recent trades factoring more highly in the index value.
At time of launch, the Street Price is calculated for 16 global currencies: BRL, CNY, COP, EUR, GBP, INR, MXN, NGN, RUB, SAR, THB, TRY, UAH, USD, VEF, and ZAR. Index history goes back to the earliest trades available on OTC market APIs.
Future Work
The Street Price site has an overview page highlighting the tracked currencies, but the single-currency view is in the works. I also plan on launching a developer API page to enable wallets and other data sites to incorporate the data.
Other improvements include more global currencies and additional data sources for over-the-counter trades. Stay tuned for updates as this project is under active development.
Drop me a line with your comments and suggestions for improving the Street Price.