Cardano leads dramatic crypto rally as Bitcoin powers through $28k again
ONE DAY TO GO!
Last chance to get your tickets…
Conversations of possible new consolidation around $25k as Bitcoin let go of a few key levels this week were still fresh when the market leader made another push above $28 this morning, currently trading for $28,330.
Ethereum is also back above $1,800, possibly lifted by the CFTC repeating that Ethereum is a commodity rather than a security. Other coins are also well in the green today, buoyed by renewed investor interest – particularly Cardano’s native ADA token which is close to $0.40 and up by a whopping 12%.
Will Bitcoin find firm footing around $28k and go to $30k, or are we in for another trip below this key level?
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 this morning was $1.178 billion.
What Bitcoin did yesterday
We closed yesterday, March 28, at a price of $27,268. The daily high yesterday was $27,460, and the daily low was $26,677.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $541.480 billion. To put it into context, the market cap of gold is $12.939 trillion and Tesla is $598.61 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $19.373 billion. High volumes can indicate that a significant price movement has stronger support.
Volatility
The price volatility of Bitcoin over the last 30 days is 62.49%.
Fear and Greed Index
Market sentiment today is 57, in Greed.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.49. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 61.45. 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.
Soundbite of the day
Bitcoin seems to be a very promising idea. I like the idea of basing security on the assumption that the CPU power of honest participants outweighs that of the attacker.
Hal Finney, one of the first Bitcoin developers, commenting on proof-of-work
What they said yesterday
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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
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Crypto AM: Events
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.