Flat start to the week as Bitcoin price levels out after brief dip
Not much has been happening in the markets in the last 24 hours. Bitcoin is trading for $22,392 this morning, marginally in the green by 0.01%. Ethereum also remains virtually unchanged since yesterday, trading for $1,561.
Most other third-generation cryptos are in the red today but the slide in prices across the board has slowed since last week.
There are mixed signals from inside and outside crypto, according to analysts. The uncertainty around crypto-friendly bank Silvergate’s troubles is lingering, but it’s mixed with positive economic indicators from China, which could increase appetite for crypto in that part of the world.
Friday’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 this morning was $1.022 trillion.
What Bitcoin did yesterday
We closed yesterday, March 5, at a price of $22,435. The daily high yesterday was $22,613, and the daily low was $22,307.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $432.900 billion. To put it into context, the market cap of gold is $12.295 trillion and Tesla is $625.82 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $13.799 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 39.4%.
Fear and Greed Index
Market sentiment today is 48, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.86. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 44.86. 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 fam: Soundbite of the day
“Bitcoin over Lightning is money over IP.“
Michael Saylor, Bitcoin whale and founder of MicroStrategy
What they said yesterday
Zoom out…
Driving renewables…
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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.