Crypto markets flatten out as August’s traditional slowdown beckons
Bitcoin started the week circling the same level as last week, following a short-lived dip yesterday.
The leader by market cap is still trading below the key $30k level, but up by 0.3% in the last day. Ethereum’s Ether is following the same pattern, still recovering from a brief sell-off after news of a hack at Curve surfaced.
Other large caps are marching to the same tune.
August is, traditionally, a slow month for crypto due to the global holiday season but things may pick up again in September.
Friday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.19 trillion
🔺 0.04%
What Bitcoin did yesterday
🔺 Daily high $29,446
🔻 Daily low $29,243
Bitcoin market capitalisation
🟠 BTC $571,211 billion
🟡 Gold $13.153 trillion
💳 Visa $493.75 billion
Bitcoin volume
🪣 Total spot trading volume $10.65 billion
🔺 77.92%
SP500
🔺 0.6%
Fear and Greed Index
Bitcoin’s market dominance
📊 49.76
Relative Strength Index (RSI)
💪 46
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, while 30 or below indicates an oversold or undervalued condition.
What they said yesterday
People associate crypto more with the future of money and the Internet, than with scams and speculation.
-Global Survey on Crypto and Web, Consensys
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All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] 🙏🏻
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MPs are falling silent over potential of cryptocurrency
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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
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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.