After the market confidence has been exhausted, it is expected to be "reborn from the ashes", and the trading momentum has fallen into a trough, unable to support the price to rise

Report Highlights

Report Highlights

Judging from market transaction data, the average price of BTC first fell and then rose, and the trading volume is still low. The price variation coefficient is stable; the turnover rate is still flat; the deposit and withdrawal address data of the five major exchanges fluctuates abnormally, and the currency flow in the market is unstable. On the whole, the market transaction momentum is not high, and the average price of BTC is difficult to form an effective rebound.

Judging from the activity data on the chain, the deviation trend between the number of newly added addresses on the chain and the number of active addresses in a single period last week reversed, and the rapid and simultaneous decline, especially the number of active addresses in a single period dropped significantly, and the average number of active addresses in a single period Transaction volumes are running low. From the perspective of the number of wealth addresses, the number of small-amount wealth addresses has undergone structural adjustments in the trend, and has been gradually repaired in the future. The number of large-amount wealth addresses has declined again. Although it has stabilized, it is still showing signs of fatigue. Overall, the transaction activity on the chain has dropped rapidly.

From the perspective of technical stability, the average computing power of the entire network last week was still fluctuating violently, the computing power was extremely unstable, and the transaction fee was still declining, falling below the previous low level.

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

Judging from the technical stability data, last week the average computing power of the entire network was still fluctuating violently, the computing power was extremely unstable, and the transaction fee was still declining, falling below the previous low level.

4. Chaindigg Confidence Index

Circulation: The total amount of coins issued 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

2019.12.31

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.