Strong start to the crypto week for price of Bitcoin and Ethereum
The top two cryptocurrencies by market cap – Bitcoin and Ethereum – have started the week off on a steady footing following a few days of more volatile trading last week.
Bitcoin is still up 0.31% over the last seven days, trading at $19,265 this morning, while Ethereum is holding the line at $1,309 – up 0.39% in the last week.
Investors are still finding their confidence in the altcoin markets, with Chainlink up 1.51% on the day, and Solana showing an increase in price of 0.95% over 24 hours.
Will we see the relatively strong start in the crypto markets continue throughout the week?
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Friday’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 $924.658 billion.
What Bitcoin did yesterday
We closed yesterday, 16 October 2022, at a price of $19,268.09. The daily high yesterday was $19,389.60 and the daily low was $19,068.91.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $369.86 billion. To put it into context, the market cap of gold is $10.965 trillion and Tesla is $637.72 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $19.689 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 32.46%.
Fear and Greed Index
Market sentiment today is 20, in Extreme 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 44.58. 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
“The whole point of Bitcoin is that you don’t need to rely on any company to be able to use your own money.”
Beautyon, founder of Azteco
What they said yesterday
Back to basics…
Great explanation showing the value of Bitcoin…
Great visualisation…
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Crypto AM: Features
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
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