What does it mean that bitcoin has an official daily price?

The Bitcoin has now Daily official price, is determined based on the Cryptofixing indicator. The index, launched by the Italian Cryptovalues ​​Consortium, is based on Installation Methodology – The same user for more than a century to select gold price– It allows you to calculate the price using average values ​​found in the major markets where cryptocurrencies are traded.

At least in the beginning the Cryptofixing indicator will do Indication of exchange values Bitpanda, Bistamp, Cex.io, Coinbase, Kraken and The Rock Trading to determine the daily price of Bitcoin.

It is undoubtedly one Good news in the field of cryptocurrency Because there will be a reference value, calculated on the basis of different fluctuations and prices between different exchanges, which can be taken as a parameter by the financial players and by the various operators in the sector. As Federica Rocco, CEO of Cryptovalues ​​explained:

Through Cryptofixing, we provide investors, both institutional and retail, with an element of certainty in order to generate confidence based on objective criteria. We provide a benchmark value that can be compared by different operators in the crypto sector, but also by traditional finance players. By setting a unique daily quote, defined by a rigorous and balanced methodology that checks its performance on different exchanges, Cryptofixing provides an innovative tool available to those who feel the need to have a benchmark parameter obtained by mediating fluctuations and variations in quotes. Various exchanges“.

What does it mean that bitcoin has an official price?

Cryptofixing establishes a fix Bitcoin every day. The methodology adopted by Cryptovalues ​​to generate a final daily value to refer to, Cryptofixing, provides for verification at 00.00 UTC the average values ​​of “money (/bid)” and “question (/question)” for each of the 6 reference exchanges: Bitpanda and Bitstamp, Cex.io, Coinbase, Kraken and The Rock Trading. These exchanges have been selected for the presence of the BTC/EUR exchange pair and for their compliance with anti-money laundering regulations and European legislative standards: this is a list subject to change to ensure that Installation is the most reliable and accurate.

Then, among the six data collected from the exchanges, the data with the highest value and the data with the lowest value will be deleted and then average the remaining four data and get the fixation.

service It can extend to other cryptocurrenciesin the future, which responds to the need to determine the Nav (net asset value), which is a critical component of valuation overall performance from basic.

In September 1919, he issued Gold price with installation By the five founding members of the London Gold Market.

The gold identification It is carried out twice a day, the first at 10:30 in the morning and the second in the afternoon at 15:00, in dollars, euros and pounds. Based on the prices they have already experienced in the markets. Since 2015, the mission has passed to the London Bullion Market Association (LBMA), in which 15 accredited entities are involved. The price set by Lbma is used in global financial markets as a benchmark for derivative contracts on gold (futures, options) and in physical gold trading. The method was later extended to silver, Euribor and fiat coins as well.

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