Bitcoin dips as crypto markets spooked by threat of war
The week in review
With Jason Deane
The crypto markets took a tumble over the weekend, with investors continuing to look jittery about the situation on the Ukraine border. The Bitcoin price dipped below $40k on Saturday for the first time since early February, as world leaders talked up the increasing likelihood of a Russian invasion. With the situation still unresolved, is there more turbulence to come?
The price of Bitcoin, the largest cryptocurrency by market cap, fell to a low of around $38k yesterday. However, it’s up 1 per cent to $39,180 at time of writing, following news that Joe Biden and Russian President Vladimir Putin have agreed in principle to a summit. Other assets also appear to have also reacted favourably to the news. Ethereum dropped below $3k, but it’s also up this morning, trading 3.6 per cent higher at $2,744. In global financial markets, European shares have also opened higher, with the UK’s FTSE 100 index up 0.46%.
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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/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $1.784 trillion.
What Bitcoin did yesterday
We closed yesterday, February 20 2022, at a price of $38,431.38. The daily high yesterday was $40,119.89 and the daily low was $38,112.81.
This time last year, the price of Bitcoin closed the day at $57,539.94. In 2020, it closed at $9,686.44.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $743.77 billion. To put it into context, the market cap of gold is $12.022 trillion and Tesla is $869.83 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $19.491 billion. 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 53.19%.
Fear and Greed Index
Market sentiment today is 25, in Extreme fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.44. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 41.81. 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
“I think companies are doing a good job of bringing it into a sort of safer, more mainstream light… I think it’s emerging as a huge, huge player.”
— Actor and Chief Creative Officer of the self-service ad platform MNTN, Ryan Reynolds.
What they said yesterday
The first letter of “freedom” is “L”
What a time to be alive
Great looking beach, no?
Crypto AM: Editor’s picks
Walmart confirms it is not partnering with Litecoin
Fake news: Walmart confirms it is not partnering with Litecoin – CityAM : CityAM
Morgan Stanley to launch new research team led by Sheena Shah
Morgan Stanley to launch new crypto research team led by Sheena Shah : CityAM
Michael Saylor buys up another 5,050 Bitcoin for MicroStrategy
Michael Saylor buys up another 5,050 Bitcoin for MicroStrategy – CityAM : CityAM
Bitcoin can now be purchased using the Post Office app
Bitcoin can now be purchased using The Post Office app – CityAM : CityAM
Simon Nixon tells Seek Ventures to ramp up Bitcoin investment
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
Day one…
Day two…
Day three…
Day four…
Day five…
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