Ethereum’s post-merge slide continues to cause concern
The price of Ethereum continues to slip this morning, falling another 3.77 per cent over the past 24 hours to $1,278 .
The price of Bitcoin is holding somewhat steadier today, up 0.15 per cent since this time yesterday to $18,930.
Ethereum’s so-called ‘Merge’ last week was considered a landmark event with huge potential long-term benefits for the scalability and sustainability of the cryptocurrency, but it appears investors are more concerned with the current economic climate in the short term – in particular interest rates.
The big news yesterday was the US central bank’s decision to raise interest rates by 75 basis points for a third consecutive time, as many were predicting before the event.
Meanwhile, Happy Vasil Day to all those involved in Cardano as the blockchain lands its hard fork today…
READ MORE: Happy Vasil Day! Much-anticipated Cardano upgrade goes live today (citypm.eu)
Have you booked your tickets for the Crypto AM Summit and Awards? Click here… Crypto AM Summit & Awards 2022 – CityAM
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 $919 billion.
What Bitcoin did yesterday
We closed yesterday, September 21 2022, at a price of $18,547.40. The daily high yesterday was $19,674.63 and the daily low was $18,290.32.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $362.94 billion. To put it into context, the market cap of gold is $11.009 trillion and Tesla is $935.78 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $50.218 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 47.85%.
Fear and Greed Index
Market sentiment today is 22, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.07. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 43.18. 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
“The demand for Bitcoin stems from the need of individuals all over the world to carry out transactions that bypass political controls and to have an inflation-resistant store of value.”
Saifedean Ammous, Author
What they said yesterday
Touché…
Ireland leading the way…
Round and round we go…
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All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] 🙏🏻
Crypto AM: Editor’s picks
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
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
Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock
The cryptocurrency fundraisers behind Ukraine’s military effort
Crypto crazy couple name baby after favourite digital asset
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