Bitcoin and Ethereum – the two largest cryptocurrencies by market cap – are each down today by roughly 2%. The original cryptocurrency is changing hands for $15,732, while Ethereum is trading for $1,086.
A few surprise green candles this morning come from Chainlink, up 4% in the last day, and Litecoin, which added 2% to its value in the last day, and 6% over the week.
The Fear and Greed Index, along with other indicators, continue to reflect the current market volatility.
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $778.42 billion.
What Bitcoin did yesterday
We closed yesterday, November 21 2022, at a price of $15,787.28. The daily high yesterday was $16,291.22, and the daily low was $15,599.05.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $303.32 billion. To put it into context, the market cap of gold is $11.54 trillion and Tesla is $522.24 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $37.42 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 53.93%.
Fear and Greed Index
Market sentiment today is 22, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.85. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 27.05. 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
“Despite all the recent bearish events, I am brimming with hope and optimism. My base case is that Bitcoin operates on a 4-year cycle fundamentally driven by its hard-coded reduction in supply.”
Zoran Kole, Founder, Zorax Capital
What they said yesterday
What a ride…
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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: 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