Crypto AM Happy 3rd Birthday
I
t’s hard to believe that the first edition of Crypto AM, a double page spread in Morning Wire, was published on 18th June 2018. My mission was to learn about Blockchain, Cryptocurrencies and Digital Assets and share / translate with the traditional square mile and Canary Wharf workers through the Morning Wire newspaper and website.
Fresh from the success of the Crypto AM Awards held at Boisdale of Canary Wharf, we were all thrown into uncharted waters with the first lockdown just weeks later. Now over a year later we can look back and I think universally agree that the period of the pandemic has actually been a huge boon to the blockchain, crypto, defi and digital assets space. It has also had a similar positive impact on CryptoAM.io as we adjusted to life without a physical newspaper.
On 20th May the Crypto AM DeFi & Digital Inclusion online summit (see links below article below) took place thanks to headline sponsor CUDOS, platform provider Cointelligence Fund and, of course, our partners Boson Protocol, CMS Law, CryptoCompare, Umbria Network and Ziglu.
I’m very much hoping to celebrate with you all in person the 3rd Birthday but it now looks like that it cannot happen until late July……
Watch this space!
New look Friday….
I’d like to introduce Jason Deane as our new Friday guest editor for Crypto AM Daily! Jason is a Bitcoin Analyst at Quantum Economics, advisor to Luno, podcaster and veteran miner, known for his in depth analysis of all things Bitcoin. Welcome Jason!
UK Cryptocurrency ownership jumps, according to FCA
Yesterday, the FCA released its fourth cryptocurrency report revealing a snapshot of the UK’s level of interest, investment and understanding of cryptocurrencies. As ever, the results make fascinating reading.
The FCA estimates that some 2.3 million adults now own cryptocurrency of some sort (primarily Bitcoin) up from 1.9 million in 2020, a change of 21% in the twelve month period. In addition, 78% have now heard of cryptocurrency and the number of people likening cryptocurrency investment to “gambling” has dropped significantly from 47% to 38% over the same period.
While this would seem to indicate that the level of understanding has increased, the research also shows, rather confusingly, that fewer people than before are able to define what cryptocurrency actually is. Those able to correctly identify the definition from a prepared list of possible answers had fallen from 75% to 71% in the same time frame.
Finally, the FCA is, of course, well known for stating (and restating ad nauseam) that “consumers should be prepared to lose all their money” if they invest in cryptos, and it appears they have been somewhat successful in their message. A significant 43% admitted they had abandoned plans to invest in the sector due to these warnings. There will be some who no doubt think this is a good thing, but an increasing number of us may yet seek to disagree.
In the end, only time will tell!
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some stats while you’re doing it? Well, now you can!
The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.So, if you’re passionate about Bitcoin, why not join today? Click here to find out more!
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – you can now watch the event in two parts via YouTube
Part One
Part Two
All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] ??
In the Markets
The Bitcoin Economy
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $1,564,077,968,345.
What bitcoin did yesterday
We closed yesterday, 17 June, 2021, at a price of $38,053.50, down from $38,347.06, the day before.
The daily high yesterday was $37,439.67 and the daily low was $39,513.67.
This time last year, the price of bitcoin closed the day at $9,411.84. In 2019, it closed at $9,081.76.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $701.3 billion. To put it into context, the market cap of gold is $11.328 trillion and Facebook is $954.16 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $36,396,983,107, down from $40,455,573,325 yesterday. 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 76.6%.
Fear and Greed Index
Market sentiment today is 25.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 45.56, Its lowest ever recorded dominance was 37.09 on 8 January, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 47.63. 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 first genuinely new asset class in about 150 years.”
- Ric Edelman, Financial Advisor
What they said yesterday…
Peace money
Freedom money
Real money
Crypto AM Editor Picks
Anonymous say video message to Elon Musk over Bitcoin meddling isn’t theirs
Bitcoin investors are growing weary of Elon Musk’s tiresome tweets
Google slowly opening its doors to cryptocurrency advertising
Cardano bridges the gap to China by teaming up with Nervos Blockchain
Crypto AM: Longer Reads
Morning Wire Markets: What is Decentralised Finance (DeFi) by Aave
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in association with Ziglu
Crypto AM: Technically Speaking
Crypto AM: A Trader’s View with TMG
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Talking Legal
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Definitively DeFi
Crypto AM Parliamentary Special
Part One of Two 21-22 April 2021
Part Two of Two 21-22 April 2021
Five Part Series 8-12 March 2021
Day One
Day Two
Day Three
Day Four
Day Five
Crypto AM: Recommended Events
Bitcoin 2021 – Miami
3 – 5 June 2021
Crypto AM Canada Roundtable
Crypto AM Blockchain & DeFi Summit
&
Crypto AM Awards 2021
29 – 30 September 2021
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 08:30am GMT.