Hopes of an overnight breakout for crypto prices are again back on ice this morning, with Bitcoin and other major cryptocurrencies again flat over the last 24 hours. Bitcoin, the largest cryptocurrency by market capitalisation, is down about 2.5 per cent since this time yesterday to just below $42k, while Ethereum is down almost four per cent to around $3,150.
The drift again echoes wide falls in global stock markets, which have opened lower as investors continue to express concerns that America’s central bank will raise interest rates to fight inflation. However, with the US largely closed yesterday for Martin Luther King day, it was a slow day for economic news. Will it spark back to life for the rest of the week?
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
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/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,006,814,994,705 down from $2,042,413,318,156 yesterday.
What Bitcoin did yesterday
We closed yesterday, January 17 2022, at a price of $42,250.55, down from $43,113.88 the day before. The daily high yesterday was $43,179.39 and the daily low was $41,680.32.
This time last year, the price of Bitcoin closed the day at $36,630.08. In 2020, it closed at $8,942.81.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $800.35 billion. To put it into context, the market cap of gold is $11.533 trillion and Tesla is $1.054 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $22,038,210,159 up from $19,162,790,950 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 41.32%.
Fear and Greed Index
Market sentiment today is 24, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 39.89. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 35.39. 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 fixes this.”
Clinical psychologist, author and thought leader, Dr Jordan Peterson on the expansion of the monetary supply and inflation.
What they said yesterday
Definitely the funnier of multiple response options…
BTC in a nutshell…
One is the past, the other is the future…
The new normal 😉
Crypto AM: Editor’s picks
Crypto crazy couple name baby after favourite digital asset
Bitcoin hashrate touches new all time high
Peter McCormack: Transforming Bedford FC into a global Bitcoin brand
Exclusive: FTSE plots development of digital asset index in crypto push
Crypto could give London a unique post-Brexit advantage, says Hammond
Diamond claws: Crypto trading hamster dies after standout investing career
New cryptocurrency named ‘JRR Token’ blocked by lawyers for Lord of the Rings creator Tolkien
El Salvador to build Bitcoin city at base of volcano
Crypto AM: Features
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 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
Part One
https://www.youtube.com/watch?v=dvqNMNZTIDE
Part Two
https://www.youtube.com/watch?v=WXhX_-Tr5j0
Cautionary Notes
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. Re member 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
Note: This article have been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here
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