Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-10-14)

The sudden increase in new entrants may be a sign of consolidation or accumulation of strength
1. Market Trends <br/>Today is October 14, 2016. The price of Bitcoin is 4310 yuan. From yesterday to today, the price has basically not changed, fluctuating around 4310 by about 10 yuan each. The hourly line is a straight line. Litecoin performed well yesterday, rising suddenly from 25.7 to 26.7, just about 1 yuan, about 4%. Generally speaking, after Bitcoin rises, Litecoin will rise slightly. This is a good cross-product arbitrage opportunity, using the exchange rate between the two products to do arbitrage. The current exchange rate of Bitcoin to Litecoin is about 0.0062 Bitcoin to one Litecoin, close to the lowest point in the past two years.
However, we observed that when Litecoin rose, Bitcoin fell slightly. After Litecoin rose and fell back, Bitcoin began to rebound slightly. This to a certain extent illustrates the flow of funds in the market. The rise of Litecoin was mostly due to the purchase of funds for cross-product arbitrage in the market.
From the data, when the price fell to around 4,300 yesterday, the market was obviously bullish. Yesterday, the index of newcomers suddenly increased to around 80, close to the peak in the past three months. It is possible that the rise in the price of the currency attracted some users to invest in the market. The data needs to be continuously observed. 2. The long-short index shows the recognition of the value of Bitcoin by the outside world <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.