With few events moving the needle this week, the crypto markets continue to drift sideways. Market indicators have remained virtually unchanged in the last 24 hours. Bitcoin’s market cap is steady around $367.171 billion, down less than a percentage point from yesterday’s $368.96 billion. The Fear and Greed Index, which measures the mood among crypto investors, is also steady at 23, the same as yesterday.
Bitcoin is trading for $19,129 this morning, down 0.54% since yesterday, and Ethereum is changing hands for $1,291, down by 0.51% over the last 24 hours.
Uniswap continues to be the outlier, opening in the green this morning and trading up 15% over the last seven days. This may be due to the recent record-setting funding round in which the company managed to raise $165 million dollars to grow its operations.
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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 $920.406 billion.
What Bitcoin did yesterday
We closed yesterday, 19 October 2022, at a price of $19,139. The daily high yesterday was $19,348 and the daily low was $19,127.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $367.171 billion. To put it into context, the market cap of gold is $10.772 trillion and Tesla is $690.76 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $22.425 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 29.48%.
Fear and Greed Index
Market sentiment today is 23, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.87. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 43.42. 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 licensing requirements that will flow from this classification will drive high standards in the industry, particularly in relation to consumer protection, with potential investors easily able to identify those providers that satisfy regulatory requirements.”
Marius Reitz, general manager for Africa at Luno, commenting on crypto assets being declared a financial product in South Africa
What they said yesterday
In the rear view mirror…
A big leap for crypto down South…
Ethereum goes institutional…
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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
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 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