Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-10-17)

The price of the currency stabilized slightly, and the debate on capacity expansion re-emerged
1. Market Trends <br/>Today is October 17, 2016. The price of Bitcoin is 4345 yuan. Since the price of Bitcoin broke through 4150 and reached 4350 last week, it has been consolidating slightly. As of today, it has opened 6 small positive lines in a row, which seems to be accumulating momentum to move upward. At 6 o'clock yesterday morning, it was once suppressed to below 4300, but it was pulled up to a higher position a few hours later. Or this is the market testing the support position of 4300. In this kind of slow-rising market, we must be wary of rapid declines, keep enough funds, and wait for the right price to increase positions. The 4300 to 4500 line is still a relatively high pressure position in the Bitcoin market, and it may take some time to consolidate.
There is no negative or positive news. However, in recent days, the Bitcoin community has been discussing Bitcoin expansion and forks. This issue has been discussed for more than two years and may become a timeless classic topic. But obviously, these discussions have no effect on the price of the currency. I still remember that every time the expansion and fork were discussed last year, the price of the currency began to fluctuate violently.
From the data, the market is slightly bearish on the weekend. However, the index of newcomers entering the market on the weekend is much higher than before. It is speculated that it is to make up for the decrease in newcomers during the holiday. There was a similar situation during the Spring Festival. The index of newcomers entering the market was relatively low during the Spring Festival holiday, and the price stabilized. Then the index of newcomers rebounded and the price began to rise. This is also the reason why the price of the currency did not fall during the National Day holiday, and we tend to be bullish. 2. The long-short index looks at the recognition of the value of Bitcoin by the OTC market <br/>The figure shows the long-short index with a period of 1 hour.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.