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Bitcoin retakes $19k after yesterday’s market unease

The price of Bitcoin yesterday briefly dipped into $18,000 territory but quickly retook $19,000 and is trading at $19,105 this morning.

Ethereum is also bobbing around in the trading doldrums at $1,294, up 0.96% on the day. 

It’s a similar story for many other cryptocurrencies, which have shown price increases or dips very close to 0% over 24 hours. Ripple is up 0.02% since yesterday, Chainlink hasn’t moved from $7.23, while Cardano is down 0.75% on the day. Solana is following a similar pattern, dropping a negligible 0.97% from yesterday’s price, trading for $31 this morning. 

There seems to be a lingering unease in the markets as investors wait to see what happens with the geopolitical climate, while also closely watching inflation numbers. This is reflected in the Fear and Greed Index, which is down to 20 today, reflecting Extreme Fear this morning. 

Have you booked your tickets for the Crypto AM Summit and Awards? Click here… Crypto AM Summit & Awards 2022 – CityAM

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   $922.247 billion.

What Bitcoin did yesterday

We closed yesterday, 10 October 2022, at a price of $19,051.42. The daily high yesterday was $19,241.96 and the daily low was $18,925.60.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $366.28 billion. To put it into context, the market cap of gold is $11.045 trillion and Tesla is $673.53 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $27.311 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 37.16%.

Fear and Greed Index

Market sentiment today is 20, in Extreme Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 41.37. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 48.06. 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

“Our focus is making it frictionless for all customers to take advantage of our scalability, reliability, security, and data services, so they can focus on innovation in the Web3 space.”

Thomas Kurian, CEO of Google Cloud, announcing that the company will start accepting crypto for its cloud services

What they said yesterday

Going according to plan…

Rethink the narrative…

Approved by the guardians of the internet…

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!

All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻

Crypto AM: Editor’s picks

Three-in-four wealth managers are gearing up for more cryptocurrency exposure

Crypto.com granted FCA licence to operate in UK

Q&A with Duncan Coutts, Principal Technical Architect at IO Global

Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’

MPs are falling silent over potential of cryptocurrency

Erica’s ‘Crypto Wars’ handed honours in Business Book Awards

‘Let people invest’: Matt Hancock makes case for liberal crypto rules

Explained: Why the Treasury is so sold on stablecoins

Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock

The cryptocurrency fundraisers behind Ukraine’s military effort

Crypto crazy couple name baby after favourite digital asset

Cryptocurrency-loving parents Bruno Karno and his wife Agatha have named their first-born Cardano in honour of their favourite crypto.

Crypto AM: Features 

Crypto AM: Founders Series 

https://www.cityam.com/profile/crypto-am-founders-series/

Crypto AM: Industry Voices 

Changpeng 'CZ' Zhao, CEO of Binance

Crypto AM: Contributors 

Crypto AM: In Conversation with James Bowater

Charles Hoskinson and James Bowater landscape

Crypto AM: Tomorrow’s Money with Gavin S Brown

Tomorrow's Money with Gavin S Brown

Crypto AM: Mixing in the Metaverse with Dr Chris Kacher

Dr Chris Kacher Mixing in the Metaverse

Crypto AM: Visions of the Future, Past & Present with Alex Lightman 

Alex Lightman Visions of the future, past and present

Crypto AM: Tiptoe through the Crypto with Monty Munford 

Monty Munford robbed out header

Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry

Jonny Fry Taking a Byte out of Digital Assets

Crypto on the catwalk

Stefania Barbaglio 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. City AM, 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


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