Bitcoin Analytics is a comprehensive live trading analysis tool which offers real-time charts for both order books and actual trades in the Bitcoin network. The project is a business and as an all-new entrepreneurial idea it is an experiment from various points of view, as a Bitcoin promotion and an attempt to provide a useful tool which can collate all the market data for Bitcoin users and traders.
The server collects order books from exchanges and trades from bitcoincharts.com, calculates the charts from raw data and pushes the data to connected clients in real time. Small trades are consolidated in time, so you can see the how a particular trade moves the resulting “real” execution price.
It consolidates small orders in order books – so you can see the resulting “real” offer. It visualizes time between trades – so you can estimate how long will it take for a small exchange to execute your trade. Trade prices, order books and time between trades are consolidated between exchanges, so you can see, for example, the best execution price for a block trade of 10000 BTC across all USD exchanges. All data are separated into “bid” and “ask” sides to provide more details.
How To Subscribe?
The service is available for free, with a limited set of indicators and delayed arbitrage charts. However, full data set of indicators is provided in paid version.
There is no requirement of e-mail or password to register. To subsribe, users must log in using either Twitter, Facebook or Google accounts. Those who do not feel comfortable using a social network account can get a new account at http://myopenid.com and use it to login. There are 3 paid subscription plans available, at the cost of 0.001 BTC per day/0.0075 BTC per month/0.0125 BTC per two months.
How It works?
The server requests order books from bitcoin exchanges every 15 seconds. All live trading information is collected from bitcoincharts.com, with data propagating almost instantly as trades are executed on an exchange. Data for the past 24 hours is displayed on the chats with 15 seconds granularity, but the site plans to implement a 2 month view. As the site is a one-page web app, there is no need to reload page to switch between different chart view.
Market activity is split into buying and selling and into liquidity supply and liquidity demand across exchanges to provide greater detail to analyses. Each of these pairs is calculated for a desired trading volume of either 10, 100, 1000, 10000 or 100000 BTC. These five pairs of indicators are calculated for each exchange to allow to compare trading activity among different exchanges.
Splitting in pairs of buying/selling and supply/demand also allows the possibility to analyze market activity separately for a buyer and seller. Thus separating dynamics of bid and ask allows deeper understanding of the market.
By using trade values across all exchanges as opposed to a particular exchange, it is possible to find out if a particular exchange is dominating the market and driving most of the volume. In most cases the benefit from selecting the right exchange and the right trade execution strategy financially outweighs the moderate subscription cost of the site.
Charts and Arbitrage
Charts are ordered to display indicators synchronously to analyze price movements with corresponding changes in order books and trading volumes. Charts are adjusted and calculated based on desired BTC volume with different volume meaning different prices and different behaviour.
Recalculated every 15 seconds, Arbitrage tables also depend on BTC volume. For free users, the table only updates once every 6 hours. The table displays arbitrage opportunities for lots of 10, 100, 1k, 10k and 100k BTC between different USD markets. It doesn't display an opportunity if there's too little volume offered at a pair of exchanges. It displays market order execution prices for corresponding volume instead of best prices. The top of the table displays the best available execution price for the volume.
To calculate the price for a high volume, the tool delves deeper and deeper in the order book until it is able to fetch the declared volume. Then the total BTC volume requested is divided by the preferred currency to calculate the actual market price for a given volume and display how it varies with time.
Bitcoin Analytics Review Summary
If you are a Bitcoin day-trader, look no further than Bitcoin analytics. The site provides the most exhaustive, panoramic bird’s-eye view of the market for a relatively modest amount of Satoshis. Even the free subscription offers such depth of data that is not readily accessible for the average trader.