Bitcoin steadies in the water as global markets continue to look fearful
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Crypto at a glance
Bitcoin continues to hold steady around the $45k level this morning, where it traded for most of the weekend. The ship seems to have steadied somewhat after last week’s flash crash saw the leading cryptocurrency drop back from hallowed ground about $50k, but will we see more consolidation before another big move?
The markets generally continue to look fearful, with the S&P 500 – an index of the 500 largest publicly traded companies – last week falling for five consecutive days. It finished the week at its lowest level in almost three weeks, as concerns grow that the global economy generally is flagging. Central banks are looking to scale back stimulus packages, while inflation concerns are again rising.
In crypto specifically, rumours of countries adopting crypto continue to swirl, with a meeting between the Ukraine and El Salvador governments getting tongues wagging this week.
The Crypto AM London Blockchain & DeFi Summit and Crypto AM Awards 2021
Day One will be held at ETC Fenchurch Street hosting the four Crypto AM Canada Roundtables so that delegates can meet and network with each other and learn from great discussions and talks.
Day Two will be summit day (streamed and live audience) at the Leonardo Royal Hotel, St Paul’s, finishing with the black tie gala dinner in the same venue where the winners of the Crypto AM Awards 2021 will be revealed.
For speaking opportunities, partnership packages or attendance (tickets will be strictly limited and by application) please email: [email protected] using the subject line ‘CRYPTOAM SUMMIT’.
Summit & Awards Announcements
Crypto AM Awards 2021 Judges Announced
Crypto AM is delighted to announce Luno as Gold Partner
Crypto AM is delighted to announce Cudos as Gold Partner
Crypto AM is delighted to announce MELD as Gold Partner
Crypto AM is delighted to announce Umbria Network as Silver Partner
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Friday’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 $2,052,376,553,953.
What Bitcoin did yesterday
We closed yesterday, September 12 2021, at a price of $46,063.27, up from $45,201.46 the day before. The daily high yesterday was $46,364.88 and the daily low was $44,790.46.
This time last year, the price of Bitcoin closed the day at $10,323.76. In 2019, it closed at $10,360.55.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $843.67 billion. To put it into context, the market cap of gold is $11.373 trillion and Facebook is $1.067 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $29,859,501,609. 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 45.46%.
Fear and Greed Index
Market sentiment today is 44.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.88, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 43.18. 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
“We want Panama to be compatible with blockchain, cryptoassets, and the internet. This has the potential to create jobs, attract investment and bring transparency.”
Panamanian legislator Gabriel Silva
What they said yesterday
And there’s no kryptonite…
Hodl. Do you do it?
The adoption continues…
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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…
Part two…
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