Problem with market price difference on Buy and Sell tabs

At this very moment, if I switch back and forward between the Buy BTC and Sell BTC tabs in Bitsquare, I see:

Buy BTC tab:

BTC/EUR 681.24
Market price (ask) BitcoinAverage

Sell BTC tab:

BTC.EUR 697.78
Market price (bid) BitcoinAverage

Obviously it doesn’t make sense if the market bid price is higher than market ask price.

Moreover I now have the strange situation that standing sell offers (in the Buy BTC tab) which can be a certain percentage above or below market price, are based on a much lower market price than open buy offers.

For example, I had a sell offer open at market +1%, and it was listed lower (EUR 688.05) than other people’s buy offers at market -1% (EUR 690.80).

My suggestion: don’t distinguish between market ask and bid prices (as base prices for sell and and buy offers respectively), but instead use one and the same market price for both.

This can be something simple as the average of the two, that would be a quick and reasonably safe fix for now. I cannot think of a scenario where taking the average is worse or less desirable than the current approach.

Although personally I think it would be better to retrieve a price from different markets/exchanges, and take the median of that. This avoids incidental peaks or drops in the Bitsquare price if there happens to be a sudden peak or drop on one particular exchange.

Hope this helps!

1 Like

I am in contact with Shaun from BitcoinAverage and he is looking into the issue. Seems that some exchange data they are using is distorting the ask/bid price.

Shaun told me they found the issue and it is fixed.

1 Like