Bitcoin’s winning streak comes to an end as Ethereum takes the lead

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?

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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 events@cityam.com with the subject CRYPTOAM SUMMIT

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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.

Bitcoin volume

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.

volatility

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?

bold

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

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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

day one

Day two

Day three

Day four

Day five

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

part One

Second part

Warning notices

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

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