Bitcoin on the up as mood lighting over crypto markets is switched to green
Bitcoin is trading up 1.85% over 24 hours and up by 4.85% in the last week, while Ethereum has added 3.9% to yesterday’s price and is up 11.85% over seven days.
It’s a similar story for the rest of the industry. At just above $13, Solana has now added more than 21% to its value in the last week, while Chainlink is up 24% over the same period.
The total capitalisation of the entire cryptocurrency industry sits at $837 billion today, while Bitcoin is again trading above the $16,500 resistance level. Will we see the original cryptocurrency make a move on $17,000 this week?
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 $837.596 billion.
What Bitcoin did yesterday
We closed yesterday, 28 November 2022, at a price of $16,217.32. The daily high yesterday was $16,482.93, and the daily low was $16,054.53.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $311.686 billion. To put it into context, the market cap of gold is $11.679 trillion and Tesla is $569.06 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $26.041 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 52.07%.
Fear and Greed Index
Market sentiment today is 26, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.01. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 36.12. 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
“New regulatory initiatives are likely to emerge focusing on custody and protection of customers’ digital assets as in the traditional financial system.”
Nikolaos Panigirtzoglou, Global strategist, JPMorgan
What they said yesterday
Saylor says…
Based on science…
Where to in the next five?
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Crypto AM: Editor’s picks
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Q&A with Duncan Coutts, Principal Technical Architect at IO Global
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MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
Explained: Why the Treasury is so sold on stablecoins
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The cryptocurrency fundraisers behind Ukraine’s military effort
Crypto crazy couple name baby after favourite digital asset
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