Bitcoin and Ethereum lead the way as crypto markets turn green again
The Bitcoin price is back above the $42k mark this morning, up three per cent over the past 24 hours and 10 per cent over the past week.
The largest cryptocurrency by market cap yesterday dropped down as low as $41k, as major stock indexes wobbled after US Federal Reserve chair Jerome Powell Powell hinted that the Federal Reserve might raise interest rates in 50-basis-point increments to tame inflation.
In a speech at the National Association for Business Economics conference, Powell said: “The labour market is very strong, and inflation is much too high. There is an obvious need to move expeditiously to return the stance of monetary policy to a more neutral level, and then to move to more restrictive levels if that is what is required to restore price stability.”
Other major cryptocurrencies are also performing strongly this morning, with Ethereum up four per cent since this time yesterday. Can they continue to hold?
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 [email protected] 🙏🏻
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 $1.933 trillion, up from $1.853 trillion yesterday.
What Bitcoin did yesterday
We closed yesterday, March 21 2022, at a price of $41,078.00, down from $41,247.82 the day before. The daily high yesterday was $41,454.41 and the daily low was $40,668.04. This time last year, the price closed at $54,529.15. In 20220 it closed at $5,830.25.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $801.34 billion. To put it into context, the market cap of gold is $12.301 trillion and Tesla is $952.02 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $33.357 billion up from $21.81 billion the day before. 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 58.95%.
Fear and Greed Index
Market sentiment today is 26, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.75. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 57.08. 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
“If you don’t understand money, you won’t understand Bitcoin.”
Microstrategy CEO and Bitcoin Bull, Michael Saylor
What they said yesterday
The times, they are a changin’…
The future is now…
👀
Crypto AM: Editor’s picks
Meet the hackers helping people recover lost crypto assets
The cryptocurrency fundraisers behind Ukraine’s military effort
Exclusive: Fireblocks valuation climbs to $8bn in $550m funding round
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
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. 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 PM, 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