Bitcoin price marked lowest weekly close since November 2020
The price of Bitcoin remains below $19,000 this morning, where it’s been for most of the past week.
The largest cryptocurrency by market capitalisation was changing hands for $18,783, down around 1.5 per cent over the past 24 hours.
Last week’s drop means that yesterday marked Bitcoin’s lowest weekly close since November 2020.
It was a flat weekend in other alt markets, with Ethereum continuing to disappoint investors who thought the recent Merge event could spark an uplift in price. It’s down to around $1,300 this morning, down more than a percentage point since this time yesterday.
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Friday’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 $928.375 billion.
What Bitcoin did yesterday
We closed yesterday, September 25 2022, at a price of $18,802.10. The daily high yesterday was $19,134.73 and the daily low was $18,696.47.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $364.79 billion. To put it into context, the market cap of gold is $10.903 trillion and Tesla is $856.55 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was
$29,928 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 44.06%.
Fear and Greed Index
Market sentiment today is 21, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.93. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 52.83. 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 can help because it provides a way of paying money that doesn’t require the support of the payment companies.”
Richard Stallman
American computer programmer and founder of the Free Software Foundation
What they said yesterday
Only time will tell…
Interesting marketing initiative…
An important history…
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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