Bitcoin climbs to a 2022 high as $48k is breached
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The crypto markets today continue their upward march, rising resoundingly above $2 trillion to the highest levels since January.
The price of Bitcoin has risen for the seventh consecutive day, up 12 per cent in the last week to just under $47,500 this morning. Bitcoin peaked north of $48,000 overnight, climbing above its 2022 price record.
Elsewhere, other major cryptocurrencies have also seen further gains over the past 24 hours. The price of Ether, the second-largest cryptocurrency, is currently $3,405 – a roughly 2.5 per cent increase since yesterday morning. The positive price momentum comes even as equity markets remain flat amid ongoing macroeconomic uncertainty, while Gold is down. The tech focused Nasdaq index climbed slightly yesterday, while the FTSE 100 index in London opened 0.8 per cent up.
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/research
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2.152 trillion, up from $2.125 trillion yesterday.
What Bitcoin did yesterday
We closed yesterday, March 28 2022, at a price of $47,128.01, up from $46,820.49 the day before. The daily high yesterday was $48,086.84 and the daily low was $46,690.20.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $903.41 billion. To put it into context, the market cap of gold is $12.223 trillion and Tesla is $1.132 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $34.156 billion. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 54.43%.
Fear and Greed Index
Market sentiment today is 56, in Greed.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.72. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 71.87. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“Canadians should have the freedom to use other money, such as Bitcoin.”
Canada candidate for Prime Minister, Pierre Poilievre
What they said yesterday
Confidence…
Can you do it? 😂
It’s about the long game…
Crypto AM: Editor’s picks
Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock
![](https://www.cityam.com/wp-content/uploads/2022/01/Hancock-1.jpg)
Meet the hackers helping people recover lost crypto assets
![](https://www.cityam.com/wp-content/uploads/2022/02/IMG_3283-1.jpg?w=982)
The cryptocurrency fundraisers behind Ukraine’s military effort
![](https://www.cityam.com/wp-content/uploads/2022/02/marching-g9415e9e86_1920.jpg)
Exclusive: Fireblocks valuation climbs to $8bn in $550m funding round
![](https://www.cityam.com/wp-content/uploads/2022/01/Fireblocks.jpeg?w=960)
Crypto crazy couple name baby after favourite digital asset
![Cryptocurrency-loving parents Bruno Karno and his wife Agatha have named their first-born Cardano in honour of their favourite crypto.](https://www.cityam.com/wp-content/uploads/2022/01/DSC05702-e1641920873613.jpg?w=1024)
Bitcoin hashrate touches new all time high
![Bitcoin mining company - Illustrations of Cryptocurrency](https://www.cityam.com/wp-content/uploads/2021/08/Bitcoin-Illustrations-of-Cryptocurrency-1320843458.jpg?w=1024)
Peter McCormack: Transforming Bedford FC into a global Bitcoin brand
![In an interview with Crypto AM, Bitcoin investor and podcaster Peter McCormack opens up about his purchase of Bedford FC.](https://www.cityam.com/wp-content/uploads/2021/12/Peter-McCormack-horizntal-.jpg?w=1024)
Exclusive: FTSE plots development of digital asset index in crypto push
![FTSE Continues To Fall Amid Growing Concerns Over Recession](https://www.cityam.com/wp-content/uploads/2020/11/FTSE-Continues-To-Fall-Amid-Growing-Concerns-Over-Recession-83416864-scaled.jpg?w=960)
Crypto could give London a unique post-Brexit advantage, says Hammond
![This image has an empty alt attribute; its file name is 001-philip-hammond-cutout-57ed5191a2921-57ed5191b2a36.jpg](https://www.cityam.com/wp-content/uploads/2013/12/001-philip-hammond-cutout-57ed5191a2921-57ed5191b2a36.jpg?w=839)
Crypto AM: Features
Crypto AM: Founders Series
![](https://www.cityam.com/wp-content/uploads/2020/07/GettyImages-1169704211.jpg?w=960)
Crypto AM: Industry Voices
![Changpeng 'CZ' Zhao, CEO of Binance](https://www.cityam.com/wp-content/uploads/2021/07/CZ-Binance.jpg?w=960)
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
![Charles Hoskinson and James Bowater landscape](https://www.cityam.com/wp-content/uploads/2021/04/Charles-Hoskinson-and-James-Bowater-landscape-scaled.jpg?w=960)
Crypto AM: Tomorrow’s Money with Gavin S Brown
![Tomorrow's Money with Gavin S Brown](https://www.cityam.com/wp-content/uploads/2021/11/Gavin-S-Brown-Crypto-AM.jpg?w=960)
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
![Dr Chris Kacher Mixing in the Metaverse](https://www.cityam.com/wp-content/uploads/2021/08/Dr-Chris-Kacher-Mixing-in-the-Metaverse-4.jpg?w=902)
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
![Alex Lightman Visions of the future, past and present](https://www.cityam.com/wp-content/uploads/2021/08/Alex-Lightman-Visions-of-the-future-past-and-present.jpg?w=960)
Crypto AM: Tiptoe through the Crypto with Monty Munford
![Monty Munford robbed out header](https://www.cityam.com/wp-content/uploads/2021/08/Monty-Munford-robbed-out-header.jpg?w=903)
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
![Jonny Fry Taking a Byte out of Digital Assets](https://www.cityam.com/wp-content/uploads/2021/11/CAMD-G89-1024-JFry-copy-6.jpg?w=960)
Crypto on the catwalk
![Stefania Barbaglio Crypto on the Catwalk](https://www.cityam.com/wp-content/uploads/2021/09/CAMD-G89-1024-SBarbaglio.jpg?w=960)
Crypto AM: Events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube
Part One
https://www.youtube.com/watch?v=dvqNMNZTIDE
Part Two
https://www.youtube.com/watch?v=WXhX_-Tr5j0
Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. City AM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 08:00 BST