Investor caution continues as cryptocurrency prices fall while stocks rise
Bitcoin is down two per cent this morning but continues to trade above the $19,000 threshold at $19,230. Ethereum followed suit, trading for $1,295 and down 2.77%.
Other large-cap cryptocurrencies are also in the red. Chainlink, Solana and Cardano are all down between three and four per cent, with Uniswap being one of a few cryptocurrencies showing positive growth over the last 24 hours, trading up 1% at $6.41.
It’s a divergence from what’s happening in traditional equity markets. The SP500, Nasdaq and Dow Jones are in the green today, albeit by one percentage point, give or take, but it’s the second day of positive growth in these markets, which may point to a deeper divergence forming between cryptocurrency and traditional markets. The renewed investor confidence in equities may be off the back of large global brands reporting strong Q3 earnings.
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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 $925.693 billion.
What Bitcoin did yesterday
We closed yesterday, October 18 2022, at a price of $19,334.42 The daily high yesterday was $19,667 and the daily low was $19,144.77.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $368.96 billion. To put it into context, the market cap of gold is $10.876 trillion and Tesla is $685.01 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $29.277 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 29.51%.
Fear and Greed Index
Market sentiment today is 23, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.80. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 43.12. 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
“Crypto is on the cusp of really going mainstream”
Jorn Lambert, Mastercard’s Chief Digital Officer
What they said yesterday
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What’s your Bitcoin strategy?
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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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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