Crypto markets follow equities hand-in-hand towards greener pastures
Bitcoin is up and over the $17,000 mark today, trading for $17,406 this morning. The leading cryptocurrency by market cap is trading 2.48% higher than this time last week. Ethereum is also in the green again, currently trading at $1,280.
The third-generation cryptocurrencies have followed the originals, with Uniswap up 2.28% on the day, Chainlink up by 0.65% and Cardano adding 0.27% to its price over the same period.
The spike in crypto prices seems to be correlated with movements in equity markets, where, according to analysts, the renewed optimism may be due to investors expecting friendlier numbers from the latest Consumer Price Index due today.
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 at time of writing is currently $845 billion.
What Bitcoin did yesterday
We closed yesterday, December 12 2022, at a price of $17,206. The daily high yesterday was $17,212, and the daily low was $16,899.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $330.914 billion. To put it into context, the market cap of gold is $11.939 trillion and Tesla is $522.08 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $18.62 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 25.15%.
Fear and Greed Index
Market sentiment today is 27, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.25. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 42.65. 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
“My neighbor is a 60-year-old woman. Today out of the blue, she asked me if I could help her buy Bitcoin.”
Jaran Mellerud, Bitcoin mining analyst and consultant
What they said yesterday
Thank you, good sir…
This one hits different…
Freedom money…
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Crypto AM: Features
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 on the catwalk
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
https://www.youtube.com/watch?v=dvqNMNZTIDE
Part Two
https://www.youtube.com/watch?v=WXhX_-Tr5j0
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