Bitcoin remains flat against the backdrop of a troubled Netflix
It was another flat day for the price of Bitcoin (BTC), which reached a high of $42,126.30 yesterday but fell back before below $41k as the market wobbled. The leading cryptocurrency is currently changing hands for around $41,789 again, roughly flat over the past 24 hours and week, potentially suggesting either a period of consolidation or uncertainty.
This uncertainty can also be seen in more traditional markets, with Netflix tumbling more than 30 per cent in a display of volatility that puts crypto to shame. The US 10-year Treasury yield also slid 0.07 percentage point to 2.84 per cent, retreating from the three year highs set earlier in the week. Yields have spiked recently, as investors turn away from bonds because they are linked to the wider economy and therefore more likely to be impacted by soaring inflation.
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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 $1.928 trillion.
What Bitcoin did yesterday
We closed yesterday, April 20 2022, at a price of $41,374.38. The daily high yesterday was $42,126.30 and the daily low was $40,961.10.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $796.19 billion. To put it into context, the market cap of gold is $12.404 trillion and Tesla is $1.009 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $29.5 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 37.33%.
Fear and Greed Index
Market sentiment today is 27, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.93. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 49.23. 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 has proven itself over the last 10 years. It hasn’t been hacked. It’s by and large, therefore, worked on an operational basis. It has built a significant following. It is an alternative, in a sense, storehold of wealth. It’s like a digital cash. And those are the pluses.”
Ray Dalio, co-chief investment officer Bridgewater Associates
What they said yesterday
Imagine…
Green power…
Time to hit the books…
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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