Ethereum bucks the trend and Bitcoin slips, but still steady above $19k
Bitcoin trading volumes have tempered somewhat since yesterday’s little breakout in the price of the original cryptocurrency, which at one point was trading at a high of $19,589.
The price of Bitcoin has slipped since yesterday to $19,307, but is still holding strong above the $19,000 mark.
Ethereum seems to be following its own path this morning, having held on to yesterday’s gains, trading up 0.75% at $1,347. The second largest crypto by market cap is up one percentage point over a week, one of the few cryptocurrencies still in the green over this period.
The SP500 and other equity indices are also up around 1% this morning, with experts attributing the slight bump in investor confidence to a bear market bounce, adding that market uncertainty is still high.
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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/research
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $926.220 billion.
What Bitcoin did yesterday
We closed yesterday, October 23 2022, at a price of $19,345. The daily high yesterday was $19,589.12, and the daily low was $19,206.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $371.211 billion. To put it into context, the market cap of gold is $10.891 trillion and Tesla is $657.19 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $26.345 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 29.66%.
Fear and Greed Index
Market sentiment today is 20, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.7. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 46.02. 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
“We’ve survived 75 years and it’s because we’ve adapted our business to new technologies. I look at this and [see it as] a massive disruptor.”
Jenny Johnson, CEO of Franklin Templeton Investments
What they said yesterday
Probably something…
Decentralised money…
Cardano helps the medicine go down…
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Crypto AM: Editor’s picks
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Q&A with Duncan Coutts, Principal Technical Architect at IO Global
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MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
Explained: Why the Treasury is so sold on stablecoins
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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
Part Two
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