Bitcoin flat again as investors wary of next Russia move
Bitcoin is down slightly this morning, falling 0.5 per cent at time of writing to $43,761. Ethereum has also dropped back somewhat, dipping 1.45 per cent to $3,085. The relatively stable price movements echoes that of other global financial markets, with the tech-heavy Nasdaq also broadly flat yesterday.
There generally seems to be a good deal of uncertainty among investors at the moment, shown by the market sentiment hovering between fear and greed on the Fear and Greed Index. It’s likely that many will have one eye on Russia’s next moves along the Ukraine border and at the latest inflationary news, both of which remain unresolved.
The US Federal Reserve is continuing to track rising inflation and could implement several interest rate hikes this year, according to minutes from its January meeting.
The uncertainty is also shown by seven-day average real BTC daily volume, which is currently just below $5 billion – a relatively muted level historically. The volume hasn’t changed in the previous seven days, which have been characterised by unusually low volatility. If the Bitcoin price starts to jump about a bit more, will we see increased market activity going forward?
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 $1.961 trillion, down from $1.984 trillion yesterday.
What Bitcoin did yesterday
We closed yesterday, February 16 2022, at a price of $43,961.86, down from $44,575.20 yesterday. The daily high yesterday was $44,578.28 and the daily low was $43,456.69.
This time last year, the price of Bitcoin closed the day at $52,149.01. In 2020, it closed at $9,690.14.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $831.59 billion. To put it into context, the market cap of gold is $11.925 trillion and Tesla is $937.24 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $20,235 billion, down from $22.138 billion 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 62.73%.
Fear and Greed Index
Market sentiment today is 52, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.80. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 58.06. 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
“For consumer convenience, we want to accept payment in a wide variety of cryptocurrencies, just as we do in credit cards.”
Colorado governor, Jared Polis
What they said yesterday
A new era for mining…
Don’t panic because Bitcoin…
Are we?
Isn’t it beautiful 😭
Crypto AM: Editor’s picks
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
Exclusive: FTSE plots development of digital asset index in crypto push
Crypto could give London a unique post-Brexit advantage, says Hammond
Diamond claws: Crypto trading hamster dies after standout investing career
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. Morning Wire, 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