Bitcoin finds footing on unsteady ground
Bitcoin has found support around $21,700 after dipping to $21,519 yesterday.
The original cryptocurrency was trading at $21,830 this morning, up by one per cent over 24 hours. Ethereum is holding the line at $1,510, in the green by 1.5% over the same period.
Other smart contract cryptos are following a similar trend. Cardano is back at $0.36, Solana up by 4%, while Uniswap has lifted by two per cent.
It’s a big day for the markets as the US Labour Department is set to release the January numbers of the Consumer Price Index (CPI). The CPI is a widely followed inflation indicator that measures the price of consumer goods. A higher than expected increase in the price of goods may spell more aggressive rate hikes in future. Whatever the outcome, it’s keeping investors on the backfoot until there’s more certainty.
Yesterday’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 $1.004 billion.
What Bitcoin did yesterday
We closed yesterday, February 13, at a price of $21,808. The daily high yesterday was $21,898, and the daily low was $21,460.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $420.366 billion. To put it into context, the market cap of gold is $12.339 trillion and Tesla is $615.86 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $22.980 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 32.48%.
Fear and Greed Index
Market sentiment today is 50, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.76. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 47.71. 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
“Every place I been to today [in El Zonte] accepted Bitcoin: Restaurants, vendors, surf shops, hotels, purpuserías, …. EVERY SINGLE PLACE. No problems, no excuses. It worked perfect! No banks, tiny fees, decentralised and permissionless. This is the future.”
Carl B Menger, Bitcoin Hodler, tourist
What they said yesterday
It’s easy to get lost in the noise…
Looks very much alive…
👀
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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
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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
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. Morning Wire, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.