Bitcoin shines on through gathering clouds of market sentiment
Bitcoin (BTC) has continued to bounce back from its five-week low of around $38,700 on Monday. The largest cryptocurrency is currently changing hands at around $41,500. It’s unlikely to push towards $50k again in the immediate future, but seems to be at least heading in the right direction for the time being.
Market sentiment isn’t really looking up though, with the Bitcoin Fear & Greed Index again sitting at 27 in Fear on Tuesday. However, crypto markets seem to be tracking stocks at the moment, which were also higher on Tuesday, while Gold – a traditional safe haven asset – has traded lower over the past 24 hours, suggesting investors are thinking riskier. Will it continue?
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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 $1.923 trillion.
What Bitcoin did yesterday
We closed yesterday, April 19 2022, at a price of $41,502.75. The daily high yesterday was $41,672.96 and the daily low was $40,618.63.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $787.87 billion. To put it into context, the market cap of gold is $12.343 trillion and Tesla is $1.062 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $25 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 38.35%.
Fear and Greed Index
Market sentiment today is 27, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.68. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 48.28. 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 is the culmination of 30 years of attempts at building digital money for the internet.”
Matt Corallo, Bitcoin developer
What they said yesterday
Viva México…
Long may it continue…
Bitcoin FTW…
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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