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I have searched the Internet for solution but could not find the one I was looking for.

I want to get bitcoin price (in usd) without using any external website (meaning not getting the price using api or something)

I want to "calculate" it myself, since there are websites who display their bitcoin price and it's slightly different from other websites I guess they found the price from their own.

How can I find the bitcoin price by myself?

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3 Answers 3

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The bitcoin price is determined by a free market of buyers and sellers. There is no way to calculate the price on your own without an external source. I suppose the only exception to this would be if you ran your own bitcoin exchange and you had enough users and volume to produce a fair market price.

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  • If the bitcoin is working in a way that I can see all the transactions isn't there a way I can determine the price based on them? Mar 28, 2016 at 5:08
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    @user3495259 You can see the bitcoin transactions in the blockchain. You cannot see the corresponding dollar transactions in the blockchain. If you see 1 BTC being transacted, you have no idea what the sender got in return. Mar 28, 2016 at 7:29
  • I do not agree with @immibis, because when bitcoin has started, it was 1btc=1$, which means that there is away to determine the price of the bitcoin from the blockchain, especially that bitcoin is decentralized and inflation free, so it should never be determined by an external source. If an external source should determine the bitcoin's price, we should only take in consideration the inflation and add it to the price retrieved from the block chain.
    – Alan Deep
    Apr 23, 2018 at 13:48
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    @AlanDeep I can't make any sense of your comment. I don't think you understand how prices work. Apr 23, 2018 at 22:31
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You may be thinking with cause and effect reversed. The Bitcoin price being $300 does not cause people to buy and sell at $300. Rather, people buying and selling at $300 causes the price to be $300.

Obviously, there is no way to find out what price people buy and sell bitcoins at without buying or selling bitcoins, or asking someone else who's buying or selling bitcoins, or asking an exchange that bitcoins get bought and sold through.

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The year is now 2023, and there has been a proliferation of cryptocurrencies. You still need to ask a crypto exchange. You still can't see the dollar transactions whenever someone trades a bitcoin, on the bitcoin blockchain, so you don't know what they paid for the bitcoin.

But if you're willing to look at a different blockchain, you may ask a decentralized, blockchain-based crypto exchange, for example, the Uniswap V3 WBTC-USDC pool on Ethereum. As long as WBTC is still exchangeable for BTC, and USDC is still exchangeable for dollars, and Uniswap V3 is still a protocol that people use, you can assume this is the price people trade bitcoins for dollars on this platform. (If it very different from the bitcoin price, then someone would trade it and make free money. That's why there's only one price.)

You don't have to read it from the info.uniswap.org website - after getting familiar with Ethereum, you could read it from the blockchain. The information is still invisible to the Bitcoin blockchain, but since the Ethereum blockchain is working as a crypto exchange, the information about its trades is available on that blockchain.

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