Miami ad-Vice: Hold on to your Bitcoin
The week in review
With Jason Deane
Greetings from Bitcoin 2022!
Yes, despite testing positive right up until the day before heading to the USA, I DID finally manage to get on the plane and get to Miami.
And I am so glad I did.
The weather is glorious of course, but that pales into insignificance when you consider what we have learned after just one day of the conference itself. The only downside is that because of the time difference I’ve had to drag myself out of one of the many parties currently occurring on the Miami strip and sit down on a borrowed laptop that looks like it’s from the 1980s to get this piece to you. But trust me, it’s worth it. Seriously, this one update you don’t want to miss.
I have to mention first of all the sheer scale of the thing. I don’t know how many people are here, but it’s certainly many tens of thousands. Plus, all the names you expect to see are here – Samson Mow, Greg Foss, Max Keisar, Jack Mallers, Peter McCormack (complete with Bedford FC T-shirt), Cathie Wood, Michael Saylor etc – and they’re throwing important announcements to the crowd like it’s cheap candy.
To kick off, Samson Mow announced the launch of his new company, Jan3 (named, of course after the date of the genesis block) designed to help on board sovereign nations. Then, quite casually, he invited the presidents of both Prospera and Madeira to the stage to talk about how they plan to adopt Bitcoin as legal tender in the style of El Salvador. Oh, and let’s not forget a senior politician from Mexico who is introducing legislation to do the same.
Cathie Wood and Michael Saylor reminded us that they are “more bullish than ever” on Bitcoin and Jack Maller’s final session of the day once again contained big announcements about the work he was doing onboarding companies and institutions. The rumours are true; by partnering with companies like Blackhawk, Shopify and NCR it will be possible for consumers to spend Bitcoin – or in fact any other currency using the Bitcoin rails – and for the merchant to receive it instantly via Lightning at a whole host of household name companies.
And this is just a sample of day one. We have yet to see what day two brings us.
So, the best advice I can give you were perfectly summarised by Michael Saylor’s closing words today: “Do NOT sell your Bitcoin!”
Have a great weekend!
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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 $2.027 trillion, up from $1.997 trillion yesterday.
What Bitcoin did yesterday
We closed yesterday, April 7 2022, at a price of $43,503.85, up from $43,206.74 the day before. The daily high yesterday was $43,860.70 and the daily low was $42,899.91.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $827.88 billion. To put it into context, the market cap of gold is $12.271 trillion and Tesla is $1.092 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $23.815 billion, down from $36.905 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 36.62%.
Fear and Greed Index
Market sentiment today is 37, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.61. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 50.04. 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
“Bitcoin is the most honest and most efficient market in the world.”
PayPal co founder Peter Thiel
What they said yesterday
They’re catching on… who’s next?
Now THAT is a bull…
A👏dop👏tion👏
Crypto AM: Editor’s picks
‘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
Meet the hackers helping people recover lost crypto assets
The cryptocurrency fundraisers behind Ukraine’s military effort
Exclusive: Fireblocks valuation climbs to $8bn in $550m funding round
Crypto crazy couple name baby after favourite digital asset
Bitcoin hashrate touches new all time high
Peter McCormack: Transforming Bedford FC into a global Bitcoin brand
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