Bitcoin has received a lot of attention recently as a decentralized digital currency. Its value varies frequently, making it an ideal subject for price tracking. In this tutorial, we’ll look at how to create a Bitcoin Price Tracker using Python. By the end of this tutorial, you will have a working program that retrieves the most recent Bitcoin price and shows it in real-time.
Introduction
The Bitcoin Price Tracker project aims to provide real-time updates on the price of Bitcoin, one of the most popular cryptocurrencies. By leveraging cryptocurrency APIs such as CoinGecko or CoinMarketCap, we can fetch the current price of Bitcoin and display it to the user.
This Python project enables users to stay informed about the ever-changing value of Bitcoin, which can be crucial for investors, traders, or anyone interested in the cryptocurrency market.
Objectives
The primary objective of creating a Bitcoin Price Tracker using Python is to automate the process of collecting the Bitcoin price on a regular basis and keep the user up to date with the market changes.
Requirements
1. You must have a basic understanding of Python.
2. Any text editor or Visual Studio Code.
3. To run and build the Python code on your machine, you will need a Python Environment.
4. CoinGecko API key is required to track the Bitcoin price.
Source Code
#importing the module
import requests
#defining the request for API key
def get_bitcoin_price():
url = "https://api.coingecko.com/api/v3/simple/price?ids=bitcoin&vs_currencies=usd"
response = requests.get(url)
data = response.json()
return data["bitcoin"]["usd"]
#creating a class object and calling it
def main():
price = get_bitcoin_price()
print(f"The current price of Bitcoin is ${price}")
#calling the main function
if __name__ = “__main__”
main()Explanation of the Code
1. Originally, we started by importing the needed module Request to cost the data via HTTP Request.
2. The ‘get_bitcoin_price()’ system is used to gain the current Bitcoin price. We produce the API URL and shoot a GET request using the ‘requests.get()’ system.
3. The API’s answer is in JSON format. The pricing data is uprooted from the JSON response and returned as a value.
4. We use ‘get_bitcoin_price()’ in the main() function to get the most recent price and add it to the price variable.
5. Eventually, we use f- strings for string formatting to print the current Bitcoin price to the press.
Output
Figure 1: Current Bitcoin price is retrieved
Conclusion
Hence, we successfully built a Bitcoin Price Tracker using Python, where we focused on building a program to scrape the real-time Bitcoin price via the API gateway of the Coingecko website by using the Request module using Python. This project can be improved even more by adding features like historical price graphs or price change alerts. The possibilities are limitless, and this project provides a solid platform for further investigation into more complex applications in the area of Bitcoin.
Sulagna is an experienced Python developer and developed web applications, data analysis tools, and automation scripts using Python. With several years of hands-on experience in Python development, she has gained a deep understanding of the language and its extensive ecosystem of libraries and frameworks. Sulagna has over 5 years of experince as a technical content writer/reviewer. She has contributed articles and tutorials to reputable online platforms, sharing her knowledge and insights on Python development best practices, web development, and data analysis.
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