It was another flat day in the crypto markets, with the price of bitcoin stubbornly holding at around $21,500 for the sixth day in a row. The largest cryptocurrency by market capitalisation is changing hands for $24,418 at time of writing, down 1.4 per cent since this time yesterday and 2.4 per cent since this time last week.
Will today see a bit more price action? Investors are looking to today’s speech at the Federal Reserve’s Economic Symposium by the US central bank’s Chair Jerome Powell for some indication as to future interest rate rises. Could that end the uncertainty that seems to be plaguing all financial markets at the current time.
Elsewhere, other major cryptocurrencies have similarly been flat over the past week, with the majority moving less the 3 per cent in either direction. The price of Ethereum has dropped 3 per cent over the past 24 hours at time of writing, changing hands for $1,658.
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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 $1.030 trillion.
What Bitcoin did yesterday
We closed yesterday, August 25 2022, at a price of $21,600.91. The daily high yesterday was $21,789.64 and the daily low was $21,362.44.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $409.28 billion. To put it into context, the market cap of gold is $11.679 trillion and Tesla is $921.07 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $30.788 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 43.27%.
Fear and Greed Index
Market sentiment today is 27, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.66. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 41.80. 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
“Bitcoin: no banks, no permission needed, no censorship, totally global, accessible to literally anyone!”
- Lark Davis, Crypto investor and influencer
What they said yesterday
BTC > Visa
A tad easier to transport than gold
Well, look at that!
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Crypto AM: Visions of the Future, Past & Present with Alex Lightman
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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