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[2015-08-19] Challenge #228 [Intermediate] Use a Web Service to Find Bitcoin Prices

Desciption

Modern web services are the core of the net. One website can leverage 1 or more other sites for rich data and mashups. Some notable examples include the Google maps API which has been layered with crime data, bus schedule apps, and more.
Today's a bit of a departure from the typical challenge, there's no puzzle to solve but there is code to write. For this challenge, you'll be asked to implement a call to a simple RESTful web API for Bitcoin pricing. This API was chosen because it's freely available and doesn't require any signup or an API key. Furthermore, it's a simple GET request to get the data you need. Other APIs work in much the same way but often require API keys for use.
The Bitcoin API we're using is documented here: http://bitcoincharts.com/about/markets-api/ Specifically we're interested in the /v1/trades.csv endpoint.
Your native code API (e.g. the code you write and run locally) should take the following parameters:
The API call you make to the bitcoincharts.com site will yield a plain text response of the most recent trades, formatted as CSV with the following fields: UNIX timestamp, price in that currency, and amount of the trade. For example:
1438015468,349.250000000000,0.001356620000 
Your API should return the current value of Bitcoin according to that exchange in that currency. For example, your API might look like this (in F# notation to show types and args):
val getCurrentBitcoinPrice : exchange:string -> currency:string -> float 
Which basically says take two string args to describe the exchange by name and the currency I want the price in and return the latest price as a floating point value. In the above example my code would return 349.25.
Part of today's challenge is in understanding the API documentation, such as the format of the URL and what endpoint to contact.

Note

Many thanks to adrian17 for finding this API for this challenge - it doesn't require any signup to use.
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IS BITCOIN FEVER COMING BACK?

After its skyrocket increase, hitting $20,000/BTC in the late months of 2017, this cryptocurrency responded to the excitement of investors with a disappointing fall in the first months of the new year.
Bitcoin has yet been able to recover 50% of its peak as the Crypto market is still fluctuating. Bitcoin value has fallen below $ 7,000, recorded on 2nd April. The whole market is sunk in red.
Kyle Salmani, the founder of crypto-currency fund Multicoin Capital, which manages $50 million (41 million euros) of private cash, said: "This is a healthy correction after an exuberant 2017." However, Kyle Salman does not bet on Bitcoin's return.
In another perspective, Jordan Hiscott, investment manager at the Ayondo Markets online platform, added: "certainly the halcyon days of performance gains from 2017 seem long gone."
According to Coinmarketcap, Bitcoin makes up only 40% of trading volume in the Crypto Market Exchanges while the number was up to 80% just a few months ago. The keyword “Bitcoin” also has a low weekly number of Google search.
Bitcoin market will continue to fluctuate based on investor sentiment "I wouldn't be surprised to see prices fall to $5,000 from here or go back above $10,000," said Craig Erlam, an analyst online currency trading platform Oanda. The majority of Bitcoin holders still keep their faith and are hoping for a dramatic change in Cryptocurrency market

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Is Bitcoin on the way out?

According to research firm Blockchain.info, transactions plunged from seven-day average of almost 400,000 in mid-December to about 200,000 this week. Earlier this year, when bitcoin price fell by more than 60 percent from its recent peak, a lesser noticed bitcoin also plummeted: the number of daily transactions.
Even when Bitcoin price had a 50 percent return since Feb.5, the number of daily transactions has not recovered. This left investors wondering if the cryptocurrencies is declining in popularity. Since it peaked in December, the average number of daily exchanges has decreased by half and touched its low in two year last month, even when bitcoin recovered to $10,000. Transactions data may be bad news for Bitcoin Bulls, according to Charles Morris - chief investment officer at Newscape Capital Group, London and also a cryptocurrencies investor. “We had a hype cycle and now it’s getting cold”, Morris said. “It is possible that we are entering a bear market”.
However, with the above information, we can still expect a growth in others altcoin.

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