Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-09-12)

Why the market crash in the middle of the night?
1. Market Trends <br/>The current price of Bitcoin is 4030 yuan. It was pulled up to 4200 yuan at 2 a.m. yesterday, and it was sideways for about 45 minutes. At about 3 a.m., it took another 45 minutes. The price of coins on various domestic platforms dropped directly from 4200 yuan to about 3900 yuan. Some platforms were even hit to 3750 yuan, directly reaching the mid-line support line. When the price was hit, we checked the data analysis system and did not find any abnormal news. We manually opened various foreign platforms one by one to confirm, and no abnormal situation was found. Given that it was a midnight crash, it is currently believed that it was a concentrated sell-off by foreign big players to cash out, and the linkage of robots between various platforms caused the price of coins to fall across the board.
Recently, our analysis has repeatedly mentioned that "the current currency price is a game of funds in the market, and the possibility of a sharp rise in the short term is not very high." We still hold the same view now, and the market needs more time to recover. Judging from the trading volume, the vitality of the market has recovered.
From the data, yesterday's daytime data tended to be bullish, but after the market crashed in the middle of the night, fewer people bought the bottom, and the market became more hesitant. Perhaps affected by the good news from Circle, there are more newcomers than usual this week, and there are funds entering the market every day to take over the selling pressure from mining. It is still a good time to intervene in the medium term.

2. The long-short index shows the off-market recognition of the value of Bitcoin <br/>The chart shows the hourly long-short index.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.