The price of Bitcoin (BTC) remains stuck below $20,000 this morning, with the largest cryptocurrency by market value changing hands for $19,911. That’s an increase of almost one per cent since this time yesterday, but it marks the tenth straight day that Bitcoin has failed to hold above the psychologically-important $20k mark.
The price of Ether (ETH) has performed slightly better than Bitcoin recently ahead of the Ethereum network’s much-anticipated ‘Merge’, and this morning is up about six per cent over the past 24 hours to $1,659.
Other major cryptocurrencies are also up slightly over the day, with Ethereum Classic the standout, showing a price increase of 26 per cent.
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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 $998.362 billion.
What Bitcoin did yesterday
We closed yesterday, September 5 2022, at a price of $19,812.37. The daily high yesterday was $20,031.16 and the daily low was $19,673.05.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $380.71 billion. To put it into context, the market cap of gold is $11.4 trillion and Tesla is $840.62 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $32.233 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 39.13%.
Fear and Greed Index
Market sentiment today is 22, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 39.04. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 40.96. 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
We should welcome cryptocurrencies in a way that doesn’t constrain their potential. Liberate free enterprise areas by removing regulations that restrict prosperity.
Liz Truss, UK Prime Minister, in a tweet from 2018
What they said yesterday
Can’t reinvent the wheel…
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
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Crypto AM: Contributors
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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