Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-07)

Rumors are spreading like wildfire
1. Market Trends <br/>Today is November 7, 2016. The current price of Bitcoin is 4760 yuan. Since the price dropped from 5100 yuan, Bitcoin is still in a consolidation and has not taken a big direction. However, the consolidation in the past few days, coupled with various gossips, has caused large fluctuations back and forth, which is a good short-term operation opportunity for skilled traders.
From the chart, the current market is relatively strong. After 5100 yuan, it should consolidate in the range of 4500 to 4800, because there are fewer locked-in and acquired positions in this range, which is suitable for further game between long and short parties to consolidate their respective positions. However, the price of the currency has been hovering around the relatively high 4800, which shows the strength of the long army to a certain extent. At present, 4800 is regarded as the dividing line between long and short. Sell high and buy low in the short term, and slightly bullish in the medium term. 2. Rumors are everywhere and there is no confirmation notification <br/>Last night, many friends who have just entered the market to invest in Bitcoin should have learned a vivid lesson. I don’t know when it started last night, a picture of "Director Feng of the Central Bank said that the heads of various trading platforms were interviewed and asked everyone to sell all the Bitcoin in their hands" spread in various communication channels in the currency circle. Everyone panicked and sold quickly, and the price of the currency began to plummet. In the early morning, I saw another amazing picture spreading the message that "Governor Zhou sent a text message saying that Bitcoin will soon be included in the foreign exchange reserves, and asked people to buy some next week." When I saw the time was almost past midnight, everyone rushed to buy, and the price rose again. Overnight, several similar messages were spread in the Bitcoin-related social circles, and it was too late to refute the rumors.
Since the birth of Bitcoin, China has only had one official document on Bitcoin, which was the "Notice on Preventing Bitcoin Risks" jointly issued by five ministries on December 5, 2013. The link is: http://www.gov.cn/gzdt/2013-12/05/content_2542751.htm. Regardless of the specific content, first look at the link. It contains gov.cn and we know that this is an official government document, proving that the source of the information is reliable. The definition of Bitcoin in the document is "Bitcoin is a specific virtual commodity that does not have the same legal status as currency and cannot and should not be circulated and used as currency in the market. However, as a commodity trading behavior on the Internet, ordinary people have the freedom to participate under the premise of assuming their own risks."
For all the pictures circulating on the Internet, either verify them seriously or just laugh it off.