Many groups of data on the chain show that the market is coming out of the haze of panic. It takes time to regain confidence in the market, and it is still prudent to operate.
Key points of the report
From the market transaction data, last week, the average price of BTC was in low shock, but the volume fell back. The price variation coefficient between exchanges has a tendency to return rapidly. The correlation coefficient of the charged currency data is recovering from the earlier deviation. The exchange rate index continues to rise to a high point after a large return.
From the chain activity data, the number of new addresses and active addresses fluctuated slightly last week, and the 7 – day average line was steady and a slight rebound. The average number of transactions for single active addresses retraced from high levels, and the trend began to stabilize. The distribution of wealth addresses is distinct. Last week, small funds were still out of the field, while large capital address data had risen sharply.
From the point of view of the technical stability, the average power of the whole network rebounded after continuing to decline, and the average out of block time and the increase of the new blocks corresponded to it, while the average transaction cost also began to decline rapidly.
Conclusion: the average price of BTC fluctuated last week, the volume of trading was shrinking and the activity of market trading declined. The decline in market activity under panic is a good thing, meaning that the market is stepping out of the haze of panic. Many groups of data in the chain also reflect this trend, for example, the number of new addresses and the number of active addresses has been steadily rising, the large capital address data has risen sharply, the overall network average force rebounded and the transaction fees fall back, but we also note that the restoration of the relevant data is not a sufficient reason for the second half of the week, but in short, the market confidence needs time to repair. Market confidence is heavier than gold. What is important for changing market decline is to regain confidence. Strategy still suggests prudent operations or beware of bottom possibilities under the bottom.
1. Market transaction data
The average price of BTC on the five major exchanges in December 2nd was 4204.40USDT, down 10.55% from the previous week. Last week, the average price of BTC seemed to end the “one thousand miles” market, in the low shock, the most obvious is the volume of decline, the weekend is more “cut” type. The price variation coefficient between the exchanges is quickly returned, and the variation trend line is also on the way to the return. The correlation coefficient of the charged currency data is being deviated from the earlier period of repair, and the correlation of the amount of money is increasing. The exchange rate index continued to rise to a high point (7.6%). On the whole, the market is slowly getting out of the panic.
Two. Data on the chain
1, BTC block chain activity data
Last week, the number of new addresses and the number of active addresses fluctuated slightly, but the 7 – day average line ended a continuous downward trend, stabilizing and showing signs of a small recovery. The average transaction number of single active addresses retraced from the high, and the trend began to stabilize. The distribution of wealth addresses is distinct. Last week, small funds were still out of the field, while large capital address data had risen sharply.
2, BTC wealth address distribution
3, BTC technical stability data
From the point of view of the technical data, the average power of the whole network rebounded after continuing to decline, with the average drop time and the increase of the new block. Meanwhile, the average transaction cost also began to decline rapidly.
Disclaimer: the above view is based on the comprehensive judgment of data analysis. As a reference, it is not the basis for investment.
Chaindigg data analysis team
Three, appendix: Index Interpretation
Total turnover: the five big exchanges deal with the number of BTC per day.
Average price: the average price per day of the five big exchanges.
Price variation coefficient: the maximum price difference / average price of five big exchanges.
Price variation trend: the 7 day average trend is smoothed by the price variation coefficient.
Turnover rate: new trading volume / circulation.
The correlation coefficient of the amount of money is calculated: the correlation coefficient between the amount and the amount of the charge is calculated by the week, and the correlation between the two is dynamically observed.
The correlation coefficient of the address of the charged coin is calculated by the weekly calculation of the correlation coefficient of the address of the coin, and the correlation between the two is dynamically observed.
Number of new addresses: the new address on the chain is added.
Single active address: at least one time to pay the number of addresses in the payment transaction.
The average number of transactions on a single active address: the average daily transaction number of active addresses on the chain.
The number of small wealth addresses: more than 1BTC is lower than the number of 100BTC addresses.
Number of large wealth addresses: more than 1000BTC address.
Average out time: the average length required for the block.
New blocks: the number of additional blocks on the chain.
Circulation: the amount of the total currency issued on the chain.
Average transaction cost: the value of all transaction costs is generated on the chain.