Bitcoin rolling with the punches and back above $40k
It was a rocky long weekend for the Bitcoin price, with the market leader dropping below $39k for the first time in five weeks on Monday. It’s since recovered back above $40k, where it seems to have once again settled. But can it sustain the position and push forward?
Ether (ETH) briefly dipped below $3,000, reaching a low of $2,880 earlier in the day before recovering back above $3,000. The combined crypto market has lost almost $400 billion since early April, as most major cryptocurrencies feel the pinch.
Again, the price action closely mirrors US stock market futures, which fell ahead of Monday’s opening as investors prepare for incoming major first-quarter earnings reports and more interest rate discussion by Federal Reserve policy-makers.
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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 $1.857 trillion.
What Bitcoin did yesterday
We closed yesterday, April 18 2022, at a price of $40,826.21. The daily high yesterday was $40,986.32 and the daily low was $38,696.19.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $773.86 billion. To put it into context, the market cap of gold is $12.585 trillion and Tesla is $1.037 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $31 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 38.29%.
Fear and Greed Index
Market sentiment today is 27, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.72. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 43.76. 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
“We need to integrate Bitcoin into every aspect of our society, every part of the fabric of our society. We need to make sure that you can go into a convenience store and buy a Snickers with a satoshi.”
Miami Mayor Francis Suarez
What they said yesterday
Good effort…
Always worth a watch…
History being made…
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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