If in October 2023 (ET timezone), at least one 30min Coingecko candle hits a high $30,000 or more, this will resolve YES
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There is no doubt that not just one but three “30min Coingecko candles” hit a high >$30k this morning around 7 AM ET:
Unfortunately, these candles will roll off out of view in about 12h, and the next period granularity (7d view with 4h candles) does not show the highs >30k, because Coingecko’s data process is just inconsistent/stupid:
The $30,074 high can be confirmed in two places, first in the “24H Range” visual up top, right below the latest price:
It can also be seen by scrolling down to the “BTC Price Statistics” section:
Both of these will also likely roll off in ~12h. You can see in the last one how the “7d low/high” does not reflect the real high, due to whatever incongruent data policy Coingecko is applying.
So, ideally @itsTomekK is able to validate these claims promptly, but even if the evidence has disappeared from view when he can check, that was the criteria he set in the market’s description, unfortunately relying on these ephemeral 30min candles, which have now been confirmed by a few of us as meeting the requirement for a YES resolution.
@itsTomekK fortunately this seems to have ended up unambiguous. Might I suggest that future questions not use Coingecko as the resolution source?
@itsTomekK Coingecko seems like a mess in general, TBH. Their candles don't keep a consistent definition of "high".
Coinmarket cap seems basically fine; they have an API that looks usable but I haven't used it. I've used their web views a bit before, and they have some interesting stats like market cap and dominance and so on. I think historical data from the API requires paying them, though. I think this is the endpoint you'd want.
Coinbase API also seems fine. That also makes clear what exchange you're taking data from, since they won't always agree, and the first time it seemed like BTCUSD hit $30k there was disagreement between exchanges to the tune of hundreds of dollars. The API is free with an account, at least for some amount of usage (I haven't investigated in detail what's included in that). I think this is the endpoint you'd want.
My vote would be to use Coinbase prices, especially since I think most of the target audience is US based, so their prices are directly meaningful.
@roma Yeah I see it too. Presumably if we look back at the candle view in 30 minutes it will show a high over $30k.
Bitcoin's price increased by approximately 5.28% during recent trading, reaching $28,454.17, while Ether saw a more modest increase of around 1.86% to trade at $1,589.10. Over the previous week, Bitcoin and Ether experienced declines, with Bitcoin losing approximately 4.35% and closing at $26,755.66, while Ether lost about 6.36% and ended the week at $1,544.24. This indicates the weekly performance of both cryptocurrencies. The decision by the U.S. SEC not to appeal the court ruling regarding Grayscale's ETF application has been a significant factor in recent market sentiment. The potential approval of Grayscale's ETF application has raised hopes among investors, suggesting that regulatory decisions have a notable impact on cryptocurrency markets. Positive sentiment in the market is indicated by the fact that other cryptocurrencies, such as Ripple's XRP and Binance Coin, saw gains of 1.77% and 2.42%, respectively. This suggests that positive news can have a ripple effect on the broader cryptocurrency market. Crypto-related equities, including Coinbase, Riot Platforms, and Marathon Digital, outperformed cryptocurrency assets, with gains of more than 2% and about 5%, respectively.
Statistical and economic data reference https://www.cnbc.com/2023/10/16/cryptocurrencies-rise-briefly-sending-bitcoin-over-30000.html
That's bot
@itsTomekK Why does candle period matter if we're looking at the 'high' value? If there was a peak in 'high', it will show up in candles of all periods.
Or did I misunderstood and this market is about open/close values of the candle?
@itsTomekK Yeah, to me it seems reasonable and simplest to look at 'high' of any candle.
Were the conditions satisfied?
On the 'basic view' which I think gathers information from multiple exchanges, the 'high' did not reach 30k.
But on the 'trading view', if the chosen exchange is Binance, it did.
If there was a peak in 'high', it will show up in candles of all periods.
Ah, this is not true for the 'basic view' as @deagol says below:
If their data was sound, then the next view’s (7d) candles (4h) should reflect the high/lows of the more granular data, but they don’t.
Maybe it's better to use an exchange or multiple exchanges as the source of information, instead of aggregators like Coingecko.
@itsTomekK I can confirm the 30min coingecko candle (the reference for resolution in the descriptión) did not reach 30k. Unfortunately this candle has rolled out of view, and the less granular candles viewable for the period in question do not reflect the same high, but a lower one, which is a basic data inconsistency on the part of coingecko. I would recommend other, more consistent aggregators for resolution criteria, or perhaps using coingecko’s daily close metric which is persistent and retrievable for any past date through the “Historical Data” tab.
@EvanDaniel coingecko’s 30min candles are only visible for the last 24h view. If their data was sound, then the next view’s (7d) candles (4h) should reflect the high/lows of the more granular data, but they don’t. Furthermore, their “Historical Data” pane only keeps track of daily open and close, but not highs nor lows.
Conclusion, do not use coingecko as a reference to resolve high/low-based resolution criteria.
Definitely would like to know @itsTomekK thinks about this. Feels like there's a strong case this should resolve yes based on his description but unfortunately there needs to be clarification from him.
@wilsonkime The candle did not hit and hold at $30k, only the wick did. So it is not a YES as of yet based on the description.
@SirCryptomind I would say the description makes no mention of "the wick is not part of the candle". So there's a lot of assumptions we are all making trying to figure out what is meant when the market maker should just clarify the rules!
@wilsonkime I can see how anyone could interpret it that way, you are correct that it does not specify if the candle wick is counted or if it is where the candle settles, unless you count "at least one 30min" as specifying where the candle settles and not the high/low wicks.
@SirCryptomind the description specifically mentions the high of the candle, which is the top of the upper wick by definition.
The candle did not hit and hold at $30k, only the wick did.
No, the wick did not reach 30k for the candle in question. The top of the wick was (the “candle hits a high” of) $29,483 as mentioned in earlier comments.