Crypto markets struggle to wake up as Bitcoin clings on above $16,000
The prices of Bitcoin and Ethereum are down today, with Bitcoin trading for $16,060 and Ethereum valued at $1,119, this morning.
It’s a continuation of a trend that’s been ongoing in crypto markets for a week now, with the majority of cryptocurrencies feeling the pressure.
Crypto indicators are reflecting current market conditions. The Fear & Greed Index continues to hover in “Extreme Fear” as investors navigate the current environment.
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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 $794.995 billion.
What Bitcoin did yesterday
We closed yesterday – November 20 2022 – at a price of $16,291.83. The daily high yesterday was $16,746.78, and the daily low was $16,248.69.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $308.02 billion. To put it into context, the market cap of gold is $11.493 trillion and Tesla is $560.57 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $29.373 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 53.35%.
Fear and Greed Index
Market sentiment today is 21, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.93. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 28.75. 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 come much further and much faster than people expected. There was a saying in the early dotcom era about “internet time,” and bitcoin time seems to be moving even faster.”
Adam Back, Co-Founder/CEO Blockstream
What they said yesterday
Well said…
Freedom comes in many forms…
A difference in perspective…
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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