Bitcoin up and over $21k while Ethereum sits comfortably above $1,500
Sometime in the last few days Bitcoin’s market cap surpassed that of Tesla and currently sits comfortably at $408 billion, following a price pump of 22.8% in the last week.
The price of Bitcoin this morning is around $21,210, while Ethereum is changing hands for $1,565 – both up around 20% on the week.
Investor uncertainty has evidently subsided. The Fear and Greed Index recently moved out of Extreme Fear into Fear and finally sits in Neutral today, a not inconsequential bit of information given the events of the last few months.
The total market cap of the entire cryptocurrency industry peeked above the crucial $1 trillion level yesterday before retracing to $990 billion. Investors are now asking the question – ‘Is it the beginning of a bull trap or the start of a bull run?’.
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $988.934 billion.
What Bitcoin did yesterday
We closed yesterday, January 16, at a price of $21,169. The daily high yesterday was $21,360, and the daily low was $20,715.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $407.42 billion. To put it into context, the market cap of gold is $12.629 trillion and Tesla is $386.5 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $22,959 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 31.71%.
Fear and Greed Index
Market sentiment today is 51, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.13. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 87.81. 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
“For the first time since June, Bitcoin has seen a greater volume of Profits realized on-chain than losses.”
Glassnode, on-chain market intelligence company
What they said yesterday
The truth you must speak…
Check for the signal, this is it right here…
The Ethereum network more secure by the day…
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Crypto AM: Events
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