Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-10-13)

The number of Bitcoin users is steadily increasing
1. Market Trends <br/>Today is October 13, 2016. The price of Bitcoin is 4306 yuan, and the price is currently in a consolidation state as expected. The short-term support is at 4280, and the upper resistance is at 4350. Observing the daily K-line, it can be found that there are a lot of locked-in positions between 4350 and 4550 in July. If it continues to go up, it will need a lot of pull-ups or a longer consolidation period to digest the locked-in positions. At present, it is still a consolidation trend, and there are more short-term opportunities. How do you know whether the number of people using the Bitcoin blockchain network is increasing or decreasing? Some people like to use the growth of independent addresses or the growth of the number of transactions to judge, but these two numbers cannot reflect the changes in the real users of Bitcoin very well. Independent addresses will become more and more due to the mixing service, and some Bitcoin service providers will generate a large number of invalid transactions on the Bitcoin network.
Coin Zone believes that to see the number of users of the Bitcoin network, we only need to look at the growth of the handling fees of the Bitcoin blockchain network. The figure below is a monthly trend chart of the Bitcoin network handling fees in recent years. In August this year, the handling fees collected by miners reached the highest point in history, close to 2,130 bitcoins, worth about 8 million yuan, accounting for 3.67% of miners' income. In August 2015, there were only about 800 bitcoins, accounting for 0.68% of miners' income. If calculated by percentage, the income of miners from handling fees is currently 6 times that of the same period last year. These data directly reflect the continuous growth of users of the Bitcoin blockchain network. How many people are willing to pay for Bitcoin blockchain transactions and what proportion of miners' income comes from handling fees are the best reflections of Bitcoin's value. From the data, the current long-short index is slightly bullish. The index of newcomers is more obvious. After the price of the currency rose to 4,360 yesterday, it fell back to 4,300 yuan. The data showed that a group of newcomers had obviously entered the market.
2. The long-short index looks at the off-market recognition of the value of Bitcoin <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 an hourly basis.