Bitcoin and co take a breather as markets wait for US to wake up
Bitcoin and its crypto cohorts took a well-earned breather yesterday, after a monumental push which saw huge lifts right across the board.
After notching an all-time high that kissed $67,000 on Wednesday, BTC dropped the anchor while it waited for the altcoin fleet to catch up.
Ethereum led the charge – coming tantalisingly close to its all-time high of $4,384 set on May 12. In fact, ETH yesterday stretched up and planted its flag a mere ten dollars below that line.
Clearly recovering, and no doubt out of breath, Bitcoin closed yesterday almost on $62,000, with Ethereum on $4,050. However, an early start saw both market leaders drive upwards again today.
Bitcoin is currently changing hands for $63,500, while Ethereum is back up in the realms of $4,150.
Bear in mind this is before much of the US has even considered breakfast. Will we lifts again when the coffee has been appreciated coast-to-coast?
Others to look out for are Cardano which, largely unmoved by the week’s rollercoaster, looks like it wants to join the party after pulling away from the $2 line and back towards $2.25.
Polkadot also seems to be enjoying some surges as it continues its remarkable march above $45 today.
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can!
The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.
So, if you’re passionate about Bitcoin, why not join today? Click here to find out more!
All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] ??
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/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,586,120,356,142.
What Bitcoin did yesterday
We closed yesterday, October 21 2021, at a price of $62,210.17, down from $65,992.84 the day before. The daily high yesterday was $66,600.55 and the daily low was $62,117.41.
This time last year, the price of Bitcoin closed the day at $12,965.89. In 2019, it closed at $8,078.20.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $1.181 trillion. To put it into context, the market cap of gold is $11.398 trillion and Facebook is $963.91 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $43,165,271,073, down from $45,566,193,992 yesterday. 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 48.81%.
Fear and Greed Index
Market sentiment today is 75, in Greed.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 45.73, down from 46.36 yesterday. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 66.03, down from 72.55 yesterday. 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
Gold was the monetary index of the 19th century until it was replaced by an array of regional stock indexes in the 20th century. Bitcoin will be the primary monetary index of the 21st century
Michael Saylor, entrepreneur and business executive
What they said yesterday
It’s decentralised…
Almost instantly…
The future is now…
A hodler’s delight…
Crypto AM: Editor’s picks
Bank of England: Crypto regulation must be pursued as ‘matter of urgency’
Former Chancellor Philip Hammond joins crypto start-up Copper
El Salvador begins mining Bitcoin using volcanic energy
Bitcoin booms but Hong Kong listed crypto stocks slide in wake of China crackdown
Cardano promises ‘industry-defining announcements’ at its biggest ever summit
Binance probed over suspected insider trading
Cardano Alonzo upgrade sees 100 smart contracts in first 24 hours
Morgan Stanley to launch new research team led by Sheena Shah
Crypto AM: Features
Crypto AM: Spotlight
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 AM: Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Day one…
Day two…
Day three…
Day four…
Day five…
Crypto AM: Events
Cautionary Notes
Original Source