ONLY EIGHT DAYS TO GO…
Take advantage of our early bird offers for the Crypto AM Summit and Awards.
Crypto at a glance
The crypto market’s rocky start to the week continues this morning, with the total value falling to its lowest level in over a month at just below $1.9 trillion.
The Bitcoin price tumbled to less than $43,000 yesterday, where it’s still currently changing hands. It’s now down almost 15 per cent from weekend highs of more than $48k. Ethereum (ETH) has also dropped two per cent over the last 24 hours, though the price of ETH continues to hold above $3k.
There are some shoots of green, with Solana and Cardano both showing signs of recovery after recent heavy losses. Largely though, cryptocurrency markets still seem to be following in the steps of faltering stock markets, which also saw heavy falls yesterday during the worst session for a couple of months. European markets have opened higher this morning, but will Bitcoin follow in recovery?
Bitcoin analysts appear divided as to whether this is a result of wider market conditions or part of the cycle, with some claiming that it is the end of a recent dead cat bounce after May’s crash or a predicted blip on the way to new all-time highs.
Similar dips were seen in 2013 and 2017 in the run up to new all-time highs, and models such as those by Plan B have actually predicted similar price movements.
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: firstname.lastname@example.org 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
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 City AM Daily in association with Luno
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 $1,902,858,690,180.
What Bitcoin did yesterday
We closed yesterday, 20 September 2021, at a price of $42,843.80, down from $47,260.22 the day before. The daily high yesterday was $47,328.20 and the daily low was $42,598.92.
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 $807.69 billion. To put it into context, the market cap of gold is $11.194 trillion and Facebook is $1.002 trillion.
The total spot trading volume reported by all exchanges over the last 24 hours was $46,982,093,703, up from $29,620,511,565 yesterday. 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 49.22%.
Fear and Greed Index
Market sentiment today is 27, back in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.86, down from 42.25 yesterday, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 39.25, down from 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
“It seems that we will be able to bank more people in 1 month than they did with nationalizations and privatizations of traditional banks in 40 years.”
El Salvador President
What they said yesterday
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