Cryptocurrency Data On Coinbase Pro - Analysis

in utopian-io •  5 months ago

Repository

https://github.com/milan102/Cryptocurrency-Data-Analysis

Introduction

I put together this repository to encourage data analysis for anyone who is interested and wants to learn about it. The technologies used are Python, SQL, data analysis tools (numpy), and data visualization tools (matplotlib).

As an example, I've done a peak price analysis of cryptocurrencies on Coinbase Pro.

Outline

  • Scope
  • Results
  • Findings
  • Conclusion
  • Tools and Scripts
  • Relevant Links and Resources

Scope

We're looking at only one cryptocurrency exchange, but it's probably the most beginner friendly and widely used of all: Coinbase (aka Coinbase Pro, previously known as GDAX). We're looking at all the prices in history and specifying that we want the highest price ever reached by using the following query:

SELECT *, datetime(time, 'unixepoch', 'localtime') as date
    FROM candles
    WHERE (market, time) IN
        (SELECT market, MIN(time)
        FROM candles
        WHERE (market, CAST(high as FLOAT)) IN
            (SELECT market, MAX(CAST(high as FLOAT))
            FROM candles
            GROUP BY market)
        GROUP BY market)

Results

marketdate (PST)high
BTC-USD2017-12-17 04:36:00$19,891.99
ETH-USD2018-01-13 13:03:00$1,419.96
LTC-USD2017-12-12 06:11:00$420.00

Findings
  • On December 12th, 2017, Litecoin, the least popular of the group, was the first to reach its all-time-high.

  • Bitcoin followed shortly after on December 17th, 2017, however it took Ethereum about a month, January 13th, 2018.

  • Bitcoin's and Litecoin's peaks occurred in the early morning (relative to the PST timezone), 4:36 AM and 6:11 AM, respectively. For Ethereum, this was in the afternoon, 1:03 PM.

  • Litecoin's peak price is an integer, precisely $420.

Conclusion

Cryptocurrency investors were highly optimistic about cryptocurrency until the 2017 holiday season, but then quickly shifted to a pessimistic attitude in the beginning of 2018. Litecoin was probably the first to reach its all-time-high due to being the cheapest coin, thus its price could be manipulated more easily. We'll need to see another incredible rally upward if those peak prices are ever to be surpassed.

Tools and Scripts

All the scripts used are available in the main repository. Each analysis is under the "analysis" folder and the way to create your own database is under the "data" folder. Here is the link to the README for generating your own database https://github.com/milan102/Cryptocurrency-Data-Analysis/tree/master/data

Here is the python script used for analysis https://github.com/milan102/Cryptocurrency-Data-Analysis/blob/master/analysis/peaks/peaks.py

Relevant Links and Resources

This resource was helpful for turning a python SQL query into something that can be analyzed and visualized https://github.com/SuruchiFialoke/DataQuest/blob/master/GuidedProject-WorkingWithSQLiteDatabase/basic.ipynb

Proof of Authorship

I'm the owner of the repository, in the "Notes" section of my main README I put my Medium and Steemit username https://github.com/milan102/Cryptocurrency-Data-Analysis#notes

I'm excited to do more analysis and ease into doing more advanced data manipulation. My findings will be posted in the repository, Medium, and Steemit. As always, everything will be open source so that everyone can learn and benefit.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Hi @milanocookie, welcome to Steem and great to see you contributing to Utopian! :) That's a cool set of scripts to fetch, analyze and plot price data from coinbase!

Unfortunately, the post does not fit the Utopian analysis category. The scope of this category is data analysis generated for Open Source projects, in the best case helping the project owner/maintainer in decision making for future developments. Market price analyses of assets on their own do not fall into the scope of Utopian.
Does it make sense to extend your toolset into a more generic framework? A tool like this could maybe make a cool Utopian development contribution? Seeing your GitHub history, I think the development category could be a pretty good fit for you! :) If you have any questions or need help getting started with Utopian, feel free to join our Discord server linked below.

Your contribution has been evaluated according to Utopian policies and guidelines, as well as a predefined set of questions pertaining to the category.


Need help? Write a ticket on https://support.utopian.io/.
Chat with us on Discord.
[utopian-moderator]

·

Thanks, what I'll do is make some more updates to this repository to make it more like a data analysis framework and then post it to the development category in the future.

·

Thank you for your review, @crokkon! Keep up the good work!

Congratulations @milanocookie! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made your First Comment

Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

Christmas Challenge - The party continues
Christmas Challenge - Send a gift to to your friends

Support SteemitBoard's project! Vote for its witness and get one more award!

Thank you so much for sharing this amazing post with us!

Have you heard about Partiko? It’s a really convenient mobile app for Steem! With Partiko, you can easily see what’s going on in the Steem community, make posts and comments (no beneficiary cut forever!), and always stayed connected with your followers via push notification!

Partiko also rewards you with Partiko Points (3000 Partiko Point bonus when you first use it!), and Partiko Points can be converted into Steem tokens. You can earn Partiko Points easily by making posts and comments using Partiko.

We also noticed that your Steem Power is low. We will be very happy to delegate 15 Steem Power to you once you have made a post using Partiko! With more Steem Power, you can make more posts and comments, and earn more rewards!

If that all sounds interesting, you can:

Thank you so much for reading this message!