Bitcoin’s strong start to the week continued yesterday, with the price of the leading cryptocurrency climbing to more than $23k for the first time since June 14.
The largest cryptocurrency by market capitalisation was trading at around $23,700 at time of writing, up nine per cent since this time yesterday morning and 21 per cent since this time last week.
The price of Ethereum also continues to look strong, up another 2.5 per cent over the past 24 hours and 47 per cent over the past seven days. The second largest cryptocurrency hit highs above $1,570 on Wednesday morning.
Other major cryptocurrencies have also seen double-digit price growth this week. Has crypto found its bottom?
Investor sentiment is also climbing, with the Fear and Greed Index yesterday ending its record-long 74-day streak in the ‘extreme fear’ zone. The index, which analyses emotions and sentiments to gain an impression of how the market is feeling, sits at 31 today – its highest level since April 11.
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can!
The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.
So, if you’re passionate about Bitcoin, why not join today? Click here to find out more!
All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
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 $1.066 trillion.
What Bitcoin did yesterday
We closed yesterday, July 19 2022, at a price of $23,389.43. The daily high yesterday was $23,666.96 and the daily low was $21,683.41.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $448 billion. To put it into context, the market cap of gold is $11.26 trillion and Tesla is $763.39 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $47,593 billion. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
The price volatility of Bitcoin over the last 30 days is 49.58%.
Fear and Greed Index
Market sentiment today is 31, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.27. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 62.25. 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
“Nothing in the last year has shaken my confidence that crypto will fundamentally reshape the way we transact and coordinate across the world. Cycles of speculation and correction are a painful but natural part of any major technological shift. It was always going to look like this.”
What they said yesterday
Hey there, Ethereum 👀
Listen to Carl…
Crypto AM: Editor’s picks
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
Explained: Why the Treasury is so sold on stablecoins
Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock
The cryptocurrency fundraisers behind Ukraine’s military effort
Crypto crazy couple name baby after favourite digital asset
Peter McCormack: Transforming Bedford FC into a global Bitcoin brand
Crypto AM: Features
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto on the catwalk
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
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