ONLY NINE DAYS TO GO…
Take advantage of our early bird offers for the Crypto AM Summit and Awards.
Crypto at a glance
It’s a sea of red across the cryptocurrency markets today, with Bitcoin falling below $45k for the first time since last Tuesday. The largest cryptocurrency is currently down roughly seven per cent over the last 24 hours. Ethereum, the second-largest by market cap, has fallen even further, dropping nine per cent since yesterday morning to around the $3,100 mark. Other alt coins have seen similar drops of around 10 per cent.
Commentators are speculating that the drop is the result of increased chatter around regulatory crackdowns, with traders opting to take profits. The fall is also echoed by plunges across the wider traditional markets, with European stock markets all dropping sharply at the open too.
In the City, the blue-chip FTSE 100 has fallen to a two-month low in early trading.
The fall comes amid a blackening economic outlook, as the Delta variant of COVID-19 continues to wreak havoc, inflation continues to rise, and the supply chain suffers from blockages.
There are also rising fears that the growing crisis at property giant China Evergrande Group may become a systemic problem to global markets and trigger a wider sell off.
Some observers have called the Evergrande crisis China’s “Lehman moment”, with the company – which is China’s second-biggest developer – owing some $300bn to contractors, investors and homebuyers.
The potential return of a correlation between the crypto and traditional markets will spark memories of last year’s collapse, which saw the two move in lockstep for much of the turbulent beginning to COVID-19 as lockdowns kicked off around the world.
Will things get worse as we head into Winter? Can the crypto markets untangle themselves?
Day One will be held at ETC Fenchurch Street hosting the four Crypto AM City of London Roundtables so that delegates can meet and network with each other and learn from great discussions and talks.
Day Two will be summit day (streamed and live audience) at the Leonardo Royal Hotel, St Paul’s, finishing with the black tie gala dinner in the same venue where the winners of the Crypto AM Awards 2021 will be revealed.
For speaking opportunities, partnership packages or attendance (tickets will be strictly limited and by application) please email: email@example.com using the subject line ‘CRYPTOAM SUMMIT’.
Summit & Awards Announcements
Crypto AM Awards 2021 Judges Announced
Crypto AM is delighted to announce Luno as Gold Partner
Crypto AM is delighted to announce Cudos as Gold Partner
Crypto AM is delighted to announce MELD as Gold Partner
Crypto AM is delighted to announce Umbria Network as Silver Partner
Friday’s City AM Daily in association with Luno
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In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,020,458,011.152.
What Bitcoin did yesterday
We closed yesterday, 19 September 2021, at a price of $47,260.22, down from $48,278.36 the day before. The daily high yesterday was $48,328.37 and the daily low was $46,919.80.
This time last year, the price of Bitcoin closed the day at $10,938.27. In 2019, it closed at $10,181.64.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $856.64 billion. To put it into context, the market cap of gold is $11.132 trillion and Facebook is $1.028 trillion.
The total spot trading volume reported by all exchanges over the last 24 hours was $29,620,511,565. 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 41.33%.
Fear and Greed Index
Market sentiment today is 50.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.25, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 46.18. 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
“The launch of dedicated crypto research is in recognition of the growing significance of cryptocurrencies and other digital assets in global markets.”
Global investment bank Morgan Stanley
What they said yesterday
El Salvador, bullish as ever…
Guess you could say it’s been a good decade…
Crypto AM: Editor’s pick
Binance probed over suspected insider trading
Cardano Alonzo upgrade sees 100 smart contracts in first 24 hours
Morgan Stanley to launch new research team led by Sheena Shah
Bitcoin can now be purchased using the Post Office app
Simon Nixon tells Seek Ventures to ramp up Bitcoin investment
Bitcoin breaks $50,000 as magic monday gives cryptocurrencies a green start to the week
Gibraltar to host first international post pandemic crypto event
Crypto AM: Features
Crypto AM: Spotlight
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 AM: Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
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