Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-07-28)

Bitcoin is the king of currencies
1. Market trend <br/>The current price of Bitcoin is 4,380 yuan, with small fluctuations and sideways trading. The four-hour line is crossing the golden cross. Pay more attention to the market to see if it will break through with large volume. Let's take a look at the digital currency rankings today. The following figure is taken from the market value ranking of coinmarketcap.com. There is no doubt that Bitcoin ranks first, and Bitcoin has always ranked first. Counting all currencies, Bitcoin currently occupies more than 80% of the market value and market value trading volume. Subconsciously, I tell me that Bitcoin's real market value share should be more than 90%, because many competing coins have very concentrated holdings and very few in circulation, and when calculating the market value, non-circulating coins are also calculated together. The data in the following table was obtained on July 28, 2016. Let's look at another table. The following table was obtained in February and June 2014. At that time, Bitcoin was in a bear market, and we compared the data from different months. In just three months, Bitcoin fell by 40%, while other altcoins fell more than twice as much as Bitcoin, with a drop of more than 80%.
This table is not to say that the decline in the bear market will be very large and scary. There is no sign that the digital currency market is entering a bear market. This table is mainly used to compare with the recent data above, and to compare the changes in the top 10 currencies. As shown in the figure, the only currencies in the top 10 that were also in the top 10 in June 2014 are Ripple and Litecoin. Many other currencies are probably unknown to friends who have just entered the digital currency investment market. In other words, we cannot know at this moment what newer currencies will squeeze out the current top 10 in the future and how many of the top 10 will remain. 2. Long-short index to see the recognition of the value of Bitcoin by the OTC market <br/>The figure is the long-short index at the hourly level. 3. Newcomer index to see the relative amount of funds entering the market <br/>The figure is the newcomer index calculated on a daily basis.