I’m still waiting for a friend to run some analysis if datasets exported via cryptory are correlated or not. Nevertheless I decided to make some data visualisation using simple charts in Excel. But before being able to easily open CSV files in Excel I needed to make some adjustments to these files by simply replacing “,” to “;” and “.” to “,”. After such a change performed in Notepad++ I was ready to open each of the in Excel and insert charts.
For the first file btc_coinmarket.csv after opening in Excel I changed the order of columns to be: date, volume, open, high, low, close. Selecting these columns and insert Stock chart produced following screen:
Next file btc_gtrends.csv:
USD-EUR exchange rate, from the file btc_rates.csv:
Dow Jones Industrial Average stock from a file btc_stock.csv:
So with a naked eye I see correlation between Google Trends for a phrase “buy bitcoin” and a price of Bitcoin. Regarding other sources I’m hesitant if there’s any link.
While writing this post I had one more idea – let’s compare charts of BTC-EUR trades with USD-EUR exchange rates. That being said we need some data from the database:
MariaDB [solocryptoprenuer]> select time, price from gdax_matches where product_id = 'BTC-EUR' into outfile 'btc-eur-matches.csv' fields terminated by ';' enclosed by '"' lines terminated by '\n'; Query OK, 130492 rows affected (10.42 sec)
Let’s plot a chart based on the exported data:
It’s representing 130,000 matched transactions. Maybe not ideal chart type, but trend is clearly visibile. Datetime range is between 09.07.2018 20:58:48 and 25.07.2018 07:25:21. Now it would be nice to have a graph for exchange rates between EUR and USD:
Hard to say without calculating Pearson correlation coefficient. Looks like I need to dig into statistics a little bit more and/or ask a friend to help a bit. However it’s worth thinking if EUR-USD is let’s say growing then if BTC-EUR should be getting lower or higher ? Assuming USD is a static reference here then if EUR is getting stronger, meaning EUR-USD exchange rate is getting lower then using common sense BTC-EUR should be getting lower as well.
Thanks for reading,