Crypto market fluctuations continue as Bitcoin price retraces
The difference between yesterday’s high and low in the price of Bitcoin was more than $800.
It isn’t much considering the extreme price swings of the past, but it’s noteworthy within the framing of the past week. The largest coin by market cap started the morning at $23,000 and pushed all the way to $23,800 before losing steam and retracing to $23,397.
Ethereum is trading flat at $1,642, in line with other smart contract cryptocurrencies, most of which are in the red by a percentage point or less over 24 hours.
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 $1,068 billion.
What Bitcoin did yesterday
We closed yesterday, March 1, at a price of $23,646. The daily high yesterday was $23,880, and the daily low was $23,088.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $451.917 billion. To put it into context, the market cap of gold is $12.115 trillion and Tesla is $641.58 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $22.721 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 38.72%.
Fear and Greed Index
Market sentiment today is 51, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.87. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 53.53. 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 fam: Soundbite of the day
“Bitcoin was created 14 years ago to give people across the planet access to a form of money that cannot be inflated nor minipulated.
Dennis Porter, founder of Satoshi Act Fund
What they said yesterday
Modern payments…
The long game…
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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.