Multiple market indicators deviate from expectations and differences are consuming market confidence

The trading momentum is weak to support the price to go up, and the downward adjustment will become a high probability

Report Highlights

Report Highlights

Judging from the market transaction data, the average price of BTC rose rapidly after the low, and went straight to the previous high. However, the transaction volume shrank in the second half of the period, and once fell to the lowest level in the near future. The coefficient of price variation ended the previous large fluctuations and entered a relatively stable stage; the turnover rate has been declining; the correlation of the deposit and withdrawal data of the five major exchanges is relatively stable. On the whole, although the average price of BTC rebounded, it was not well supported by the trading momentum.

Judging from the activity data on the chain, the deviation between the number of new addresses on the chain and the number of active addresses in a single period last week was more obvious. From the trend line, the number of new addresses began to rise, while the number of active addresses in a single period continued to increase. Decline; the average number of transactions of a single active address is slowly declining, and it is running below the trend line. From the perspective of the number of wealth addresses, the number of large and small wealth addresses has reversed the previous synchronous rise pattern, and there has been a deviation. The number of small wealth addresses has increased but the number of large wealth addresses has declined rapidly. On the whole, multiple indicators of transaction activity on the chain diverge, the transaction increment deviates from the stock, and the size of the fund deviates. On the one hand, it reflects that there is a large difference in expectations in the market. Lack of momentum in capital transactions.

From the perspective of technical stability, the average computing power of the entire network fluctuated violently last week, and the computing power was extremely unstable. Transaction fees rose and then fell again.

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

2019.12.24

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.