Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-09-09)

On-site funds buy up and market vitality recovers
1. Market trends
The current price of Bitcoin is 4160 yuan. Yesterday, there was a good news. With the release of Apple's iOS 10 system, Circle, which is committed to opening up global payment channels, will have its Bitcoin wallet Circle Pay integrated into Apple iMessage. Circle received tens of millions of dollars of investment from several Chinese investment institutions a few months ago.
With the release of this news, the price of Bitcoin rose by 100 yuan from 4080 yuan to 4180 yuan. Yesterday's rise was still due to the buying of funds in the market. In the next few days, we should observe whether more newcomers will enter the digital currency market due to this news. The trading volume has also recovered. The Bitcoin trading volume of large platforms has returned from the sideways trend of 400,000 to 500,000 BTC per day to the current more than 1 million BTC per day. The market is recovering.
From the data, the market was bullish when it was sideways around 4100 yuan, but when it rose to around 4180 yuan, the market tended to be bearish. The newcomer index has bottomed out and is relatively stable. Every day, there is capital entering the market to take over the selling pressure of mining. Recent operations should be bullish, and buying on dips is a better choice. 2. The long-short index looks at the recognition of the value of Bitcoin outside the market <br/>The figure shows the long-short index every hour.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.