Crypto at a glance
Bitcoin’s longest winning streak in eight years stalled on Saturday, though the world’s largest cryptocurrency was still enjoying a relatively leisurely weekend for more than $ 42,000 – its highest price since mid-May. Bitcoin price has increased every day for ten consecutive days, although it fell about 4% this morning to just over $ 40,000.
The withdrawal was due to some uncertainty surrounding the proposed bipartisan infrastructure accounting currency of $ 550 billion Senate bipartisan Infrastructure Act restricts the definition of “broker” to those offering digital asset transfers, which could affect miners in the country.
Even so, market sentiment is still the highest since May and continues to hover around 50 after months of extreme fear. And it has been a better weekend for Ethereum, which is the only leading major cryptocurrency in the green today. The smart contracts giant, who turned six last week, is re-establishing itself at over $ 2,500, up 0.75% this morning to just over $ 2,600, and breaking its $ 300 billion market cap again. Can it get back above the $ 3,000 level it held briefly earlier this year?
The Crypto AM London Blockchain & DeFi Summit will take place on September 29th and 30th …
The first day takes place in two pavilions where the Crypto AM City of London Roundtables are held so that delegates can meet and network and learn from great discussions and lectures. The second day is the summit day at the Leonardo Royal Hotel, St. Paul’s, which ends with the gala dinner where the winners of the Crypto AM Awards 2021 will be announced.
For speaking opportunities, sponsoring or participation (tickets are strictly limited and on request) please send an email to firstname.lastname@example.org with the subject CRYPTOAM SUMMIT
Would you like to help spread the word about Bitcoin adoption and formation in the UK and even collect some stats while you do so? Well now you can!
That Bitcoin pioneers Community, backed by Barry Silberts Digital Currency Group, was formed to bring Bitcoin to a mainstream audience in meaningful ways and now has members across the UK.
We share tips, stories, and ideas on how to encourage others to try Bitcoin for the first time. And thanks to Luno’s support, every pioneer receives £ 500 a month of Bitcoin to share with beginners to help them get started.
So if you have a passion for Bitcoin, why not join today? Click here to find out more!
All feedback on Crypto AM Daily in collaboration with Luno is welcome by email at James.Bowater@cityam.com 🙏🏻
Crypto AM Daily on Friday in collaboration with Luno
In the markets
The bitcoin economy
* For definitions and insights, see https://bytetree.com/insights/
Total crypto market capitalization
The total capitalization of the entire cryptocurrency market at the time of writing is currently $1,627,463,924,894.
What Bitcoin did yesterday
We got yesterday, August 1st, 2021, at the price of. closed $ 39,974.90, down from $ 41,626.20 the previous day.
The daily high was $ 42,541.68 yesterday and the daily low was $ 39,540.94.
Around this time last year, Bitcoin price closed the day at $ 11,759.59. In 2019, it closed at $ 10,399.67.
Bitcoin market capitalization
Bitcoin’s market capitalization at the time of writing is $ 756.23 billion. To put it in context, the market cap of gold is $ 11.502 trillion and Facebook is $ 1.004 trillion.
The total spot trading volume reported by all exchanges in the last 24 hours was $ 26,893,844,669. High volumes may indicate that a significant price move has stronger support and is more likely to be sustained.
Bitcoin’s price volatility over the past 30 days is 53.95%.
Fear and greed index
The market sentiment is today 48.
Bitcoin’s market dominance
Bitcoin’s market dominance is today 47.12, The lowest dominance ever recorded was 37.09 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 64.86. Values of 70 or above indicate that an asset is overbought and may be prepared for a trend reversal or price correction – an RSI of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“Using Bitcoin for wire transfers could potentially lower transaction costs compared to traditional wire transfer channels. The idea is that Bitcoin could be used as an intermediary for cross-border remittance, so that dollars are converted into Bitcoin by the sender and then converted back into dollars by the recipient domestically. “
- Bank of America report on El Salvador’s decision to accept BTC as legal tender
What they said yesterday …
Bitcoin is hope?
Digital real estate?
If everyone in the world understood bitcoin and the current macro environment, the price would be anywhere between $ 1 million and $ 10 million per bitcoin.
– Dan Held (@danheld) August 1, 2021
Recommendations of the Crypto AM editor
OccamFi receives strategic investment from Cardano Early Stage VC Fund
The proof of stake gives us a real opportunity for change
Fabric Ventures announces $ 130 million fund to invest in digital assets and decentralization
The US is getting closer to the cryptocurrency tax after the last minute bill
What has to happen to cryptocurrencies so that regulators can more easily accept this industry?
London’s crypto executives book is flying off the shelves
Crypto AM: Longer reads
City AM Markets: What is Aave’s Decentralized Financing (DeFi)
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in collaboration with Ziglu
Crypto AM: Technically speaking, in collaboration with Zumo
Crypto AM: A Trader’s View with TMG
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 and Present with Alex Lightman
Crypto AM Contributor: Jilian Godsil
Crypto AM: speak legally
Krypto AM: Spotlight
Crypto AM: Founder Series
Crypto AM: Industry voices
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Definitely DeFi
Crypto AM parliamentary special offer
Part one of two 21.-22. April 2021
Part 2 of 2 21.-22. April 2021
Five-part series 8.-12. March 2021
Crypto AM events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – you can now watch the event in two parts on YouTube
It is certainly tempting to get carried away with the excitement, but please heed this warning: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with this. However, remember The content of this article is for informational purposes only and does not constitute investment advice or any form of recommendation or invitation. City AM, Crypto AM and Luno always advise you to seek your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 8:00 AM BST