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Tintin

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Location: Uranus

Hi, I am interested in the correlation between LTBC value and the number of participating users. There seems to be a core group of about 800 users that is active every week. But the total number fluctuates, maybe due to market value, maybe due to publicity, or maybe it is just noise.

So I'd like to plot this in a graph, the data for the number of users is easily obtained from the stats on this website. But the weekly average market value is not so ealisy to get. This will cost a lot of manual labor, haha. I could use the weeks closing price on poloniex to make things a little easier, but still it takes a lot of time to type everything in manually.

So, I am wondering, does anyone know a quicker way to get the data? Maybe you can export trading data from the exchange somehow?

Posted on March 29, 2015 at 12:07 PM

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• Cryptonaut

  

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  Good idea! I've been wondering lately too about price history statistics. Im sure they are being tracked somewhere, but I know on Poloniex their API just gives me the latest price and 24h average... il report back here if I manage to find any price history data sources

  Posted on March 29, 2015 at 1:19 PM
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• irnhnve

  

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  Looks like the Poloniex API has a method to return the 24 hour volume of several currencies. You could write a python script to get that data and then multiply it by 7 to account for each day of the week and then use something like matplotlib to draw the data to charts

  Posted on March 30, 2015 at 9:31 PM
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• Tintin

  

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  @irnhnve Looks like the Poloniex API has a method to return the 24 hour volume of several currencies. You could write a python script to get that data and then multiply it by 7 to account for each day of the week and then use something like matplotlib to draw the data to charts

  Good idea! Unfortunatelly I don't have any experience with python.

  Posted on March 31, 2015 at 1:23 AM
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• Tintin

  

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  Update:

  My hypothesis is the following: There is a large undecided group, that determines their participation according to opening price of the week. If price is up at the start of the week, more people will participate. I assume people decide to participate or not at the beginning of the week. So I use the opening price after the distribution. However, distributions aren’t always on time, and the poloniex server time is GMT. So to be safe, I’ll just use the opening on Monday GMT. The corresponding users are from the stats of the end of that week.

  A way to test this is by plotting the users versus the price. If this is roughly a linear dependency, we can conclude my hypothesis is correct, unfortunately I was wrong:

  

  So, maybe the site gets more popular over time, so let’s incorporate the date into the equation:

  

  Conclusion: It turns out to be one noisy mess. I cannot deny the price has some influence, but it is not the dominant factor. I suspect the dominant factor is one of these: bitcoin news, advertising, linking of ltb pages on reddit.

  If you want to take a loot at the data, feel free to copy, share, or whatever: https://www.dropbox.com/sh/gmi4zgz6zqtijj1/AAAq5qQNtNTsyznSRZosYwqoa?dl=0

  Posted on April 3, 2015 at 2:57 AM
  Last Edited: April 3, 2015 at 3:01 AM
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