Market Analysis: Economic recession is expected to strengthen, Bitcoin is expected to stabilize upward

特邀专栏作者

2019-09-05 18:32 (UTC+8)

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In a short period of time, Bitcoin fell back to around $10,500 and fluctuated, and it is possible to continue to test the resistance level.

AI Summary

In a short period of time, Bitcoin fell back to around $10,500 and fluctuated, and it is possible to continue to test the resistance level.

Abstract: The U.S. economy is showing signs of recession, and global interest rate cut expectations are further strengthened, which is a long-term positive for Bitcoin. In a short period of time, Bitcoin fell back to around $10,500 and fluctuated, and it is possible to continue to test the resistance level.

According to the statistics of QKL123, at 13:00 on September 5, 2019, the total market value of the global Token market was 1,945.320 billion yuan, the 24-hour total market value increased or decreased -0.25%, the total turnover was 358.524 billion yuan, and the total turnover changed -17.26% , the market activity decreased significantly. The Babbitt Composite Index reported 13692.09 points, with a 24-hour change of +0.88%; the Alternative Sentiment Index was 41, a slight drop from yesterday (43), and the market sentiment remained fearful.

Among the top ten encrypted assets by market value (excluding USDT), BTC has the largest 24-hour increase (+0.09%), and ETH has the largest 24-hour decrease (-1.76%). The proportion of BTC market capitalization (69.61%) increased slightly from yesterday (69.30%), hitting a new high since 2018. The proportion of ETH market capitalization (6.99%) decreased slightly from yesterday (7.09%), and the market risk aversion remained high . USDT’s 24-hour price change was -0.02%. Today’s net capital inflow was +8.0409 million yuan, which was a reversal from yesterday’s (-13.9094 million yuan). .

In the past day, the relative value of global Bitcoin Google searches (peak value 86) was significantly lower than the previous period (peak value 98), approaching a seven-day low. The top seven countries and regions are Nigeria (100), Ghana (52), Brazil (50), South Africa (45), Austria (44), Germany (44) and Hong Kong (41). Among them, the popularity of Bitcoin searches in Hong Kong (peak value 100) has increased significantly compared with yesterday (peak value 70), reaching a new high since June 28.

1. Spot BTC market

1. Funding

2. Fundamentals

2. Spot ETH market

1. Funding

2. Fundamentals

3. Spot LTC market

1. Funding

2. Fundamentals

4. Spot EOS market

1. Funding

2. Fundamentals

1. Long term (1-3 years)

5. Analyst strategy

1. Long term (1-3 years)

2. Midline (January-March)

3. Short term (1-3 days)

6. Appendix - Index Interpretation

Babbitt Composite Index (8BTCCI) is composed of the most representative Tokens with large scale and good liquidity in the existing blockchain global market, to comprehensively reflect the price performance of the entire blockchain Token market.

Fear & Greed Index (Fear & Greed Index) reflects changes in market sentiment, 0 means "extreme fear", 100 means "extreme greed". The components of this indicator include: volatility (25%), trading volume (25%), social media (15%), online questionnaires (15%), market share (10%), and trends (10%).

USDT OTC discount and premium index

ChaiNext USDT OTC Discount Index (USDT OTC INDEX) is obtained by dividing the USDT/CNY OTC price by the offshore RMB exchange rate and multiplying by 100. When the index is 100, it means USDT parity, when the index is greater than 100, it means USDT premium, and if it is less than 100, it means USDT discount.

This indicator reflects the inflow and outflow of funds in the secondary market. By calculating the difference between inflows and outflows of global exchanges (not excluding false transactions), a positive value indicates a net inflow of funds, and a negative value indicates a net outflow of funds. Among them, the transaction volume when it rises is counted as inflow of funds, and the turnover when it falls is counted as outflow of funds.

Number of currency days destroyed

Bitcoin Coindays Destroyed refers to the product of the number of bitcoins traded on the chain and the number of days bitcoins are held. The larger the value, the greater the risk of selling pressure on the secondary market. Classification of BTC coin-day destruction number: greater than or equal to 100 million is the maximum value; 50 million to 100 million is the larger value; 10 million to 50 million is the median value; less than or equal to 10 million is the relatively small value small value. Classification of the number of LTC coins destroyed per day: the maximum value is greater than or equal to 500 million; the larger value is 100 million to 500 million; the median value is 50 million to 100 million; the smaller value is less than or equal to 50 million.

Number of active addresses on the chain

Data Sources:

Note: Encrypted assets are high-risk assets. This article is for decision-making reference only and does not constitute investment advice.

QKL123 (Blockchain 123) is a comprehensive data service provider integrating blockchain website navigation, digital currency market, and blockchain data.

Data Sources:

August 2019