The average price of BTC has repeatedly confirmed the bottom of the stage, and the divergence of expectations may gradually divide the market.

Report Highlights

Report Highlights

Judging from the market transaction data, the average price of BTC has dropped slightly, and the transaction volume has remained low. The coefficient of price variation drops rapidly and pulls the trend line to turn around and extend downward. The narrowing of interest spreads between exchanges is not conducive to "moving bricks" transactions on the floor; the turnover rate is single and the fluctuation is small; The correlation performance is relatively stable, but the correlation coefficient of the deposit and withdrawal amount has a downward trend, and the market currency flow is hardly stable in the future. On the whole, the current market trading momentum is shrinking again, the price is cautiously going down, and the previous bottom position is repeatedly confirmed.

Judging from the activity data on the chain, there was a divergence between the number of new addresses on the chain and the number of active addresses in a single period last week, and the number of new addresses remained stable, with an upward trend of fluctuations; There is a clear downward trend; the average transaction volume of a single active address fluctuates relatively steadily, but the trend line has undergone structural adjustments, reflecting the current unstable transaction momentum in the market. From the perspective of the number of wealth addresses, the number of large and small wealth addresses has risen simultaneously, but the follow-up performance of the number of large wealth addresses has been weak. On the whole, the transaction activity on the chain is unstable, mainly due to the instability of stock transactions and the lack of lasting motivation for large amounts of funds.

From the perspective of technical stability, the average computing power of the entire network bottomed out at the previous low point again last week. From the perspective of the center of gravity, it is relatively stable, but the transaction fee rebounds weakly and continues to weaken. On the whole, to a certain extent, miners' expectations for BTC prices are still unstable.

1. Market transaction data

1. Market transaction data

1. BTC blockchain activity data

2. Data on the chain

1. BTC blockchain activity data

3. BTC technical stability data

2. BTC wealth address distribution

3. BTC technical stability data

4. Chaindigg Confidence Index

4. Chaindigg Confidence Index

Average transaction fee: the average value of all transaction fees generated on the chain.

Disclaimer: The opinions involved in this report are based on comprehensive research and judgment based on data analysis. They are only for reference and not as investment basis. Risky investment in currency speculation requires caution.

Chaindigg data analysis team

2019.12.16

3. Appendix: Index Explanation

Total trading volume: The daily trading volume of BTC on the five major exchanges.

Average Price: The daily average price of the five major exchanges.

Price variation coefficient: the largest price difference/average price of the five major exchanges.

Price variation trend: Obtained by performing trend smoothing on the 7-day average of the price variation coefficient.

Turnover rate: new trading volume/issued volume.

Correlation coefficient of deposit and withdrawal amount: calculate the correlation coefficient of deposit and withdrawal amount on a weekly basis, and dynamically observe the correlation between the two.

Correlation coefficient of deposit and withdrawal addresses: calculate the correlation coefficient of deposit and withdrawal addresses on a weekly basis, and dynamically observe the correlation between the two.

Number of new addresses: New unique addresses on the chain.

Single-period active addresses: the number of addresses that have had at least one payment transaction within the statistical period.

Average transaction volume of active addresses in a single period: The average daily transaction volume of active addresses on the chain.

The number of small wealth addresses: the number of addresses greater than 1BTC and less than 100BTC.

The number of large wealth addresses: the number of addresses exceeding 1000 BTC.

Average block time: the average time required to generate a block.

Newly added blocks: The number of newly added blocks on the chain.

Circulation: The total amount of coins issued on the chain.

Average transaction fee: the average value of all transaction fees generated on the chain.