The price of Bitcoin has stabilised at just above $20k for now at least, changing hands for $20,282 this morning – a drop of just 0.07 per cent over the past 24 hours.
Other major cryptocurrencies are also broadly flat. Even Ethereum, which today finally sees its long-awaited upgrade to a new way of verifying transactions, is steady over the past 24 hours at $1,600. Was it priced in?
There may not be much excitement in the markets, but for long-term crypto investors it’s an exciting day at least. Ethereum 2.0, as it was known for a long time, is now at long last a reality. The shift to a proof-of-stake consensus mechanism is expected to immediately slash the second-largest cryptocurrency by market value’s energy use by more than 99%. Will it change the game?
Have you booked your tickets for the Crypto AM Summit and Awards? Click here… Crypto AM Summit & Awards 2022 – CityAM
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 trillion.
What Bitcoin did yesterday
We closed yesterday, September 14 2022, at a price of $20,241.09. The daily high yesterday was $20,467.20 and the daily low was $19,793.40.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $388.42 billion. To put it into context, the market cap of gold is $11.182 trillion and Tesla is $941.41 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $40.117 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 51.13%.
Fear and Greed Index
Market sentiment today is 27, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.12. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 46.99. 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
“Crypto is a $1 trillion global asset class with over 300 million participants and pent-up demand from millions more.”
EDX Markets, Board of directors
What they said yesterday
Ethereum is Merged…
The first NFT on new Ethereum…
It’s not only crypto feeling the pinch…
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
Crypto AM: Editor’s picks
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
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
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