Cryptocurrency markets continue to reflect wider volatility
At $16,538, Bitcoin is trading down by less than a percentage point in the last day, while Ethereum is down by 2.7%, trading for $1,196 this morning. The rest of the cryptocurrency market is also showing signs of investor uncertainty. The numbers are looking slightly more positive compared to a week ago.
The price of Ethereum is up by 0.28% over seven days, while the cryptocurrencies of the Chainlink and Uniswap networks are both in the green by 6%, give or take.
The ongoing volatility is showing in the various crypto market indicators, with the Fear & Greed index slipping a few points to 20, while the 30-day average for Bitcoin’s price volatility is up to 53.
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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 $827.539 billion.
What Bitcoin did yesterday
We closed yesterday – November 16 2022 – at a price of $16,669.44. The daily high yesterday was $16,960.30, and the daily low was $16,430.11.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $317.992 billion. To put it into context, the market cap of gold is $11.757 and Tesla is $581.5 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $32.809 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 53.19%.
Fear and Greed Index
Market sentiment today is 20, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.49. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 30.62. 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
“Long-term, increased regulatory clarity will be good for crypto. A murky regulatory environment keeps investors on the sidelines and stifles the creativity of crypto entrepreneurs.”
Matt Hougan, Chief Investment Officer, Bitwise
What they said yesterday
True then, true today…
Superior money…
Reliable issuance…
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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
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