Bitcoin Market Report: Big Data Research B-WAP

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Data as of 19:00 UTC March 31 2016 except as noted.

$BTCUSD down -4.60% on the month

Price brief
Bitcoin is up 1.02% on the day, down -4.60% on the month and up 41.57% on the year:

Price change $BTCUSD
Day 1.02%
Month -4.60%
Year 41.57%

Big data research: B-WAP
Big data blockchain firm @BraveNewCoin is pushing the envelope in data research once again. Their latest product is B-WAP. According to their website:

The “block weighted average price”, or B-WAP, is a new indicator, price discovery mechanism, dataset and API.

Realizing blocks as a measure of time, BNC dynamically calculates an accurate market bitcoin price for each block in the blockchain.

bwap Image courtesy @BraveNewCoin

@KittyBitcoin chatted with Fran Strajnar, CEO of BraveNewCoin, and he remarked:

“The BWAP excites me because it is the first time we can have a programmatic way to value bitcoin transactions. By doing so we have also uncovered new methods of price-discovery which leads us to believe the nature of programmable value will offer a transparent set of tools to augment inefficient market structures and evolve them into an inter-operable, highly efficient and transparent new global framework.”

The BWAP statement generator is available free on the BraveNewCoin website:

http://bravenewcoin.com/b-wap/

Major $BTCUSD prices
xbtliveprice Image courtesy @KittyBitcoin

Market snapshot
In our 30 day market summary the bitcoin price has seen a brief rise to $427.78 from $418.26 two weeks earlier on March 15 2016. It’s down on the month -4.60%:

market-summary Data courtesy @BraveNewCoin

21 day chart
The OKCoin chart shows 21 days of $BTCUSD:

support-resistance Chart courtesy @OKCoinBTC

Support & Resistance
Support
The two major support lines are drawn in yellow. We have seen a low of about $ 396 for the month and a mid month low of $396.14. A weekly low of $404.68 has seen rising prices since.

The bottom support in 30 days is near $403.02 – which we have seen several times at mid month. The upper support is seen at about $410 and this is seen recently as well as about a month ago.

Resistance
Resistance is drawn in purple. $427 is top end resistance in recent days. A month ago resistance was seen at around $420. At mid month $417 was the barrier.

Weekly indicators
High: $427
Low: $404.68
Range: $22.32
Support: $410
Resistance: $427

Market sentiment
These are subjective estimates of BTC market sentiment:

Daily: bullish
Weekly: neutral
Monthly: neutral

Key Highlights
• market begins to recover from recent slide
• $US dollar reverses losses as traders return from Easter Break
• Commissioner J Christopher Giancarlo of Commodity Futures Trading Commission (CFTC) has positive outlook on blockchain technologies
• media transforming “bitcoin” into “blockchain ledger technology”

BitcoinWisdom.com
Here’s a different data source; BitcoinWisdom offers a continuously updated snapshot of some of the larger bitcoin exchanges:

https://bitcoinwisdom.com/

bitcoinwisdom Image courtesy BitcoinWisdom

Global bitcoin markets
The global BTC markets indicate the relative size of each BTC pair, last price and 24 hour change. The 24hr volume of all the pairs below totals: $ 190,794,365:

global-bitcoin-markets Data courtesy @BraveNewCoin

The percentage of each market is:
BTCCNY 74.10%
BTCUSD 12.74%
BTCJPY 6.84%
BTCEUR 5.54%
BTCGBP 0.67%

So we see that when we look at just BTCUSD we are focusing on less than 13% of the total market – at least according to today’s numbers.

Bitcoin exchange market share: all currency pairs
This chart shows “all currencies” traded in the thirty day period. The overall ranking shows little change from two weeks ago. The only positional change is a drop by Bit-x from number three (3) to number six (6). Even with this plunge @Bitx2014 volume still exceeds @Bitfinex by almost one hundred thousand (98,000) bitcoin for the 30 day period:

all-currencies Data courtesy Bitcoinity.org March 31 2016

Historical – previous report
all-currencies-march-15 Data courtesy Bitcoinity.org March 15 2016.

$BTCUSD volume & market share
The thirty day $BTCUSD piechart is below. Bit-x has slipped a couple of notches from the previous report. @Bitfinex is “back in the saddle again” – but for how long?

btcusd-pie-march-31-2016 Data courtesy Bitcoinity.org

Historical – previous report
btcusd-pie-march-15-2016 Data courtesy Bitcoinity.org

Blockchain intelligence
The KittyBitcoin website is sporting a mobile friendly bitcoin key intelligence section offering market summary information at a glance:

http://kittybitcoin.com/bitcoin/

key-intelligence Image courtesy @KittyBitcoin

Summary
Bitcoin is UP 1.02% on the day, DOWN -4.60% on the month and UP 41.57% on the year. BTC saw weekly support at $410 and resistance at $427. The trend line is BULLISH and overall sentiment is NEUTRAL.

Disclaimer
Past history is not an indicator of future performance. For the legal disclaimer read here.

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