Bitcoin price shows signs of recovery as major cryptocurrencies push to the upside
The prices of major cryptocurrencies continue to climb this week, in line with global stock markets, which have also shown signs of recovery.
The price of Bitcoin is up another six per cent over the past 24 hours, changing hands for more than $21k this morning.
Ethereum has also seen signs of life, up another five percent since yesterday morning to around $1,165.
There’s double digit gains for the likes of Solana and Chainlink. Has downward momentum been arrested for the time being?
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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 $932 billion.
What Bitcoin did yesterday
We closed yesterday, June 20 2022, at a price of $20,599.54. The daily high yesterday was $20,913.32 and the daily low was $19,689.17.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $406 billion. To put it into context, the market cap of gold is $11.671 trillion and Tesla is $673.69 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $32,045 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 71.85%.
Fear and Greed Index
Market sentiment today is 9, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 44.44. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 32.41. 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
“Models come and go.
Narratives come and go.
What doesn’t change is:
– 21m
– Censorship resistance
– Unforgeable costliness
– Decentralisation
– Self-custody
– Immutability
– Fast and global peer-to-peer payments
– Scaling through lightning
– Global liquidity”
Peter McCormack
Podcast host and Chairman of Real Bedford FC
What they said yesterday
Bitcoin is a destination…
A new challenger emerges…
What are you waiting for?
Crypto AM: Editor’s picks
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
Explained: Why the Treasury is so sold on stablecoins
Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock
Meet the hackers helping people recover lost crypto assets
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. 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