Price of Bitcoin is up, but struggling to reach $20,000
The price of Bitcoin (BTC) is up over the past 24 hours this morning, but has struggled to convincingly break through the $20k mark. It currently sits at around $19,700 – up two per cent since this time yesterday.
The market leader continues to track stock markets, which are also struggling amid the ongoing failure to tame inflation and fears the global economy will fall into recession.
Other major cryptocurrencies have actually fared better, with Ethereum up almost six per cent on the day. The second-largest cryptocurrency is currently changing hands for around $1,127. It comes ahead of the upcoming, long-anticipated ‘Merge’ event, which will see the network transition from a proof-of-work to proof-of-stake platform.
Uniswap is the day’s big winner, building on yesterday’s strong performance to climb another eight per cent in price.
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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 $906 billion.
What Bitcoin did yesterday
We closed yesterday, July 4 2022, at a price of $20,231.26. The daily high yesterday was $20,258.75 and the daily low was $19,063.07.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $383 billion. To put it into context, the market cap of gold is $11.452 trillion and Tesla is $706.6 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $23,982 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 73.59%.
Fear and Greed Index
Market sentiment today is 19, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.32. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 37.16. 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
“There is no right and wrong choice of money. There are, however, consequences to choices.”
Saifedean Ammous, Author
What they said yesterday
Happy 4th of July!
Great thread on the history of the US and Bitcoin’s place in it’s future…
Congrats to the new owners…
Crypto AM: Editor’s picks
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‘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
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