Can Bitcoin hit a new high? | Standard consensus

Highlights of this issue

Summary: According to the standard consensus sentiment index, the current market sentiment is good. The latest index is 1.12. The market is in a volatile and rising stage. The volume of transactions continues to grow.

BTC: BTC may fluctuate and consolidate under $ 9,500 for a short period of time, digest the previous profitable chips, and wait and see the market status. If it breaks through $ 9,500, it will further increase rapidly.

ETH: The ETH pressure level is $ 200. It is expected to test the pressure level again in the short term. If the volume breaks through, it can be further held.

BCH: The pressure of BCH is at the previous high level. Once BCH quickly breaks through $ 500, the early lock-in market will once again become an advocate, forming a solid support platform and driving the price to rise further.

This report

As of the release of the report (January 31, 2020), the total global market capitalization of digital currency assets this Friday was US $ 260.034 billion, an increase of US $ 31.034 billion and an increase of 13.56%. The 24-hour market turnover was USD 121.799 billion, a year-on-year increase of USD 26.644 billion or 28.10%. The market value fluctuates more obviously, but the overall rise is in a stage, and the 24-hour turnover is also increasing. The overall market expectations are beginning to change, gradually changing from wait-and-see to market entry.

Data source: Standard consensus, CoinMarketCap

According to the standard consensus sentiment index, the current market sentiment is good. The latest index is 1.12. The market is in a volatile and rising stage. The volume of transactions continues to grow. At the same time, according to the proportion of Bitcoin to the total market capitalization, the proportion of Bitcoin has declined to a certain extent, falling to 65.9%, a large decline, indicating that other digital currencies in the market have gradually begun to attract investment and favor.

Data source: Standard consensus, CoinMarketCap

According to the standard consensus halving countdown index, BTC's current block height is 615,285, and there are only 95 days left before the next halving. It will take some time for BTC to achieve the expected halving, but investors need to pay attention to the halving time of BTC. When the next halving is approaching, the price of BTC will enter a rapid rising cycle again. Recently, the efficiency of block production has picked up, and miners' willingness to mine has picked up.

Review and analysis of BTC, ETH, and BCH trends

According to CoinMarketCap data, the average daily turnover rate of BTC in the past 7 days is 16.82%, which is 0.60% higher than the average daily turnover rate within three months, and 1.34% lower than the average daily turnover rate last week. BTC is in a turbulent climb this week, breaking the previous pressure of $ 9,200. The rise is partly affected by the panic caused by the national epidemic, and coupled with the expected halving of BTC, the BTC has a strong upward demand. BTC may fluctuate and consolidate under $ 9,500 in the near future, digest the profitable chips in the early stage, and wait and see the market status. If it breaks through $ 9,500, it will further increase rapidly.

According to CoinMarketCap data, the average daily turnover rate of ETH in the past 7 days is 56.42%, which is 3.08% higher than the average daily turnover rate in three months, and 8.63% lower than the average daily turnover rate last week. ETH price broke through the previous high again, but in terms of trading volume, it was lower than the previous high. On the one hand, it shows that there is still room for further increase in market chips, but on the other hand, it may be that the overall new funds are insufficient. The ETH pressure level is $ 200. It is expected to test the pressure level again in the short term. If the volume breaks through, it can be further held.

According to CoinMarketCap data, the average daily turnover rate of BCH in the past 7 days is 54.12%, which is 7.06% higher than the average daily turnover rate within three months, and 6.98% lower than the average daily turnover rate last week. In the early stage, BCH and BSV started a rising competition with each other. After that, due to the limited incremental funds in the later period, the price caused a sharp correction. At present, there is still a gap of more than 35% from the highest point. Rising pressure. The pressure of BCH is at the previous high level. Once BCH quickly breaks through $ 500, the early lock-in market will once again become an advocate, forming a solid support platform and driving the price to rise further.

risk warning:

  • Be wary of illegal financial activities under the banner of blockchain and new technologies. Standard consensus firmly resists illegal activities such as using blockchain for illegal fundraising, network pyramid schemes, ICOs and various variants, and dissemination of bad information.