Bitcoin Trading Signals - Long Term Update - Weekly View
Enky (@Enky_Nakamura) writes in a blog post:
An extremely volatile market that makes me uncomfortable to post my short term trades on a public blog like this followed for the most part by amateurs.
On a weekly basis, the trend is still up, trading activity is growing and show an increasing volume activity. The weekly moving average is unaffected by the recent wild daily swings, the inverse fisher rsi is still overbought with no signs of weakness.
Jon Matonis (@JonMatonis) compiled a list of statistics that consolidate data and provide information on various aspects of Bitcoin. Excerpts:
“2. Price Chart – This chart displays the last trade price for bitcoin (BTC) against a number of currencies and ranks the exchanges by 30-day volume. Advanced charting capability is provided here. The price depth chart of BTC/USD on the MtGox exchange is usually the best indication of overall market price.”
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“6. Number of Daily Transactions – This chart displays the total number of unique bitcoin transactions per day. An alternate version is also provided that excludes transactions with the top 100 popular bitcoin addresses based on number of outputs.”
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“8. Bitcoin Days Destroyed attempts to provide a reliable indication of transaction volume that strips out transfers to oneself and immediate account reorganizations since a high value for days destroyed indicates less hoarding and more old bitcoin on the move. It can be considered a measure of monetary velocity.”
Previous Posts - Twitter: @BitcoinMoney
GoWest (@GoWestBTC), blogging on TheBitcoinTrader.com, shows some metrics describing where Bitcoin shined in 2012. Excerpts:
“The current market cap is actually at a peak for 2012, exceeding the spike in August. This can be attributed to the fact that tens of thousands of Bitcoins have been introduced into the economy since August.”
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“These have shown steady growth over the past year: The number of items listed at Bitmit (an auction site that operates in Bitcoin), the number of users at Ogrr (an MMORPG marketplace), and the number of views of the ‘What is Bitcoin’ YouTube video.”
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“Bitcoin’s top poker site, SealswithClubs, is gaining new users on a daily basis, with attendance at the tables on the rise.”
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“The Bitcoin discussion on the TwoPlusTwo forums, the most popular poker discussion forum on the ‘net, has 3,000 posts and 165,000 views!”
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“All-in-all, a very impressive year for Bitcoin. Here’s to an even stronger performance in 2013!”
Previous Posts - Twitter: @BitcoinMoney