Crypto is a risky business – but we can make our own financial decisions
Crypto at a glance
with Jason Deane
I was sent a screenshot of a newspaper article this week that really caught my eye.
It was a snippet from the Wall Street journal on the day of Apple Inc’s IPO on December 12 1980, and in which readers were informed that citizens of Massachusetts would not be able to participate in that IPO because the powers-that-be had decided the stock was simply “too risky”.
In other words, approximately 5.5 million (at the time) people were locked out of being able to purchase Apple stock because someone else had decided that they were not responsible enough to make their own financial decisions. Of course, the implication was also that those same powers that be knew better.
Except they didn’t. On a split-adjusted basis, Apple’s stock debuted at a measly 10 cents and currently trades at $146. These days Apple stock can be used as collateral to secure funding from pretty much any lending broker. It was one of the best investments of the last century, but millions were denied the opportunity. Many more would almost certainly have been put off by the same article.
Such is the importance of truly investing time into properly understanding any asset, especially new and revolutionary ones such as Apple then, or for example, Bitcoin now. These days, although there is certainly more noise, opinion and incorrect information out there, there are also authoritative, knowledgeable voices to turn to.
This week, as mentioned in Crypto AM yesterday, the long awaited “B-Word” event took place online with some of those authoritative voices. While the headline act – the discussion between Elon Musk, Jack Dorsey and Cathie Wood – may have been a little more inconclusive than many hoped, there is a wealth of first class information to be found. I particularly recommend Nic Carter’s excellent presentation on Bitcoin mining and the environment. In terms of understanding Bitcoin, you really can’t get better. Check all the speaker tracks here.
In the meantime, if you’re going to Crypo AM’s third birthday anniversary event next Wednesday in London, I’ll be offering up a short keynote on the Bitcoin Pioneer community, now growing rapidly across the UK. Don’t forget to come and say “hi!”
Have a great weekend!
Jason
Cudos proudly presents the Crypto AM 3rd Birthday Unlocking Summer Party at Boisdale of Canary Wharf on Wednesday July 28…
The Crypto AM 3rd Birthday Unlocking Summer Party is a go!
An amazing champagne drinks reception followed by a three course summer lunch washed down with beautiful Mirabeau Azure Rosé! Followed by the chance to finally catch up and network with the community to the intoxicating beats of a Mediterranean beach club.
There will be a main keynote from Matt Hawkins, Founder & CEO of CUDOS, a community Keynote from Jason A Deane of Bitcoin Pioneers and a panel discussion around the ‘State of the Crypto Union’ moderated by Crypto AM contributor Alex Lightman.
I’m also delighted to announce that Ted Byron Baybutt the Director of British Sci-Fi Thriller ‘Slammer’ will be exhibiting an exclusive screening of the trailer to the film. He’s bringing his film crew so who knows? Attendees might end up featuring in the film.
I’m hugely grateful to our partners CUDOS, World Mobile, BEQUANT, Bitstamp, CryptoCompare, CEX.IO, Bitcoin Pioneers & GlobalBlock Digital Asset Trading whose generosity is enabling everyone to attend free of charge.
I am holding ten tickets for readers to attend – if you’d like to apply please email me directly with your name, company and contact details explaining why you‘d like to attend. I will let the lucky applicants know who they are next Wednesday.
My email address is [email protected]
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 $1,345,664,918,099.
What Bitcoin did yesterday
We closed yesterday, July 22 2021, at a price of $32,313.11, up from $32,110.69, the day before.
The daily high yesterday was $32,576.40 and the daily low was $31,745.30.
This time last year, the price of Bitcoin closed the day at $9,581.07. In 2019, it closed at $9,900.77.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $611.26 billion. To put it into context, the market cap of gold is $11.478 trillion and Facebook is $995.78 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $20,344,749,230, down from $26,309,040,191 yesterday. 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 50.2%.
Fear and Greed Index
Market sentiment today is 23.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 45.99, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 48.43. 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
“The internet gets a chance to have a native currency, to me that’s Bitcoin because of the principles, creation story, and resilience. But what inspires me the most, is the community driving it.”
– Jack Dorsey, Bitcoin bull and tie dye aficionado
What they said yesterday
Another convert…
The holy trinity?
Times are changing…
Crypto AM editor’s picks
Steve Jobs’ 1973 application to be auctioned in original format AND as an NFT
Surf legend Kelly Slater is ready to ride the crypto wave
Cardano leapfrogs Bitcoin as eToro clients most held cryptocurrency
Coinbase gets green light from German regulators
Crypto AM: Longer Reads
City PM Markets: What is Decentralised Finance (DeFi) by Aave
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in association with Ziglu
Crypto AM: Technically Speaking in association with Zumo
Crypto AM: A Trader’s View with TMG
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Talking Legal
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Definitively DeFi
Crypto AM Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Part one…
Part two…
Part three…
Part four…
Part five…
Crypto AM Events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – you can now watch the event in two parts via YouTube…
Part one:
Part two: