Crypto at a glance
Nice Monday! A weekend of good cryptocurrency news could bode well for the week ahead.
In the United States, the Senate passed President Joe Biden’s $ 1.9 trillion aid package for Covid-19 on Saturday. Analysts have speculated that this is a positive move for Bitcoin and other safe havens as it will ultimately lead to inflation. It could also spark another wave of demand for crypto if stimulus check recipients use the money to buy cryptocurrencies.
The markets appear to be in line with the analysts. Bitcoin price rose quickly by $ 500 immediately after the news, and Bitcoin spent the weekend trading at levels around $ 50,000.
It currently hovers just below that important psychological mark. According to media reports, the economic stimulus plan is going back into the house, where it will be voted on Tuesday.
The stimulus announcement wasn’t the only good news this weekend. Chinese tech giant Meitu announced it had bought $ 22.1 million in Ethereum and $ 17.9 million in Bitcoin. They are joining a growing list of institutional investors getting on the crypto bus, though excitingly they are the first from China to do so.
Will the move trigger some kind of copycat from the country? The company also said it is “evaluating the feasibility of integrating blockchain technologies into its various overseas companies,” including the possible adoption of Ethereum-based apps.
Ethereum generally appears to have awakened from its slumber this weekend and surged back above $ 1,700 on Sunday. Will you manage to keep the momentum going for the rest of the week? Elsewhere, Uniswap cracked the top 10 for the first time after hitting a new all-time high of more than $ 34 – Bitcoin Cash made way for the cryptocurrency and dropped out of the top 10. The decline marks a steady decline for the cryptocurrency, which has steadily increased in price but has been overtaken by other competitors. Will Uniswap now manage to maintain its place in the top 10?
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In the markets
|Surname||price||Price change (24h)||Price change (7 days)|
|Bitcoin (BTC)||$ 49,531.13||+ 0.27%||+ 7.19%|
|Ethereum (ETH)||$ 1,681.26||+ 0.81%||+ 17.01%|
|XRP (ripple)||$ 0.4624||-0.21%||+ 9.86%|
|Currency (XMR)||$ 205.48||+ 0.23%||-4.03%|
|Polkadot (DOT)||$ 33.69||-0.77%||+ 0.36%|
|Algorand (SOMETHING)||$ 1.08||-0.89%||+ 5.29%|
|Cardano (ADA)||$ 1.12||-0.30%||-11.33%|
|Chain link (LINK)||$ 28.61||+ 0.14%||+ 13.82%|
|Aave (AAVE)||$ 393.76||+ 1.28%||+ 7.39%|
|UniSwap (UNI)||$ 32.94||+ 7.34%||+ 44.21%|
|Celsius (CEL)||$ 5.19||+ 11.75%||+ 10.78%|
|Binance Coin (BNB)||$ 232.09||+ 2.19%||+ 4.63%|
|Crypto market capitalization||$ 1,540,175,539,967|
|MVIS CryptoCompare Digital Assets 100 large-cap index||-1.99|
|MVIS CryptoCompare Digital Assets 100 Small Cap Index||-0.79|
|MVIS CryptoCompare Ethereum Close VWAP Index||+1.69|
|Prices and dates from [08:30, 8/03/2021]||Source: CryptoCompare.com, MVIS|
The bitcoin economy
* For definitions and findings, see https://bytetree.com/insights/
What Bitcoin did yesterday
We were closed yesterday, March 7th, 2021 at a price of $ 51,206.69 – from $ 48,912.38 the previous day. This is the highest daily close since February 22nd.
Yesterday’s daily high was $ 51,384.37 and the daily low was $ 48,918.68.
Around this time last year, Bitcoin price closed the day at $ 8,909.95. In 2019 it was $ 3,911.48.
To date, buying Bitcoin has been for …
99.9% every day since April 28, 2013.
Bitcoin market capitalization
Bitcoin’s market capitalization is $ 923,187,647,227 at the time of writing. The total market cap of gold is $ 10.772 trillion.
The volume traded in the last 24 hours was 45,890,393,684 USD. High volumes can indicate that a significant price move has stronger support and is more likely to last.
Bitcoin’s price volatility over the past 30 days has been 79.63%.
Fear and greed index
Market sentiment is still in extreme greed 81.
Bitcoin’s dominance of the market
Bitcoin’s dominance of the market is 61.01. The lowest dominance ever recorded was 9/37 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is 54.53. Values of 70 or higher indicate that an asset is being overbought and may be prepared for a trend reversal or price correction. An RSI of 30 or less indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“Blockchain technology can disrupt both the existing finance and tech industries, much like the mobile internet disrupted PC internet and many other offline industries […] The Board believes that cryptocurrencies offer ample room to grow in value and that allocating part of its treasury to cryptocurrencies also serves as a diversification for holding cash (which is subject to devaluation pressures due to the aggressive increase in money supply by central banks around the world) in treasury can administration. “
Chinese photo editing app, Meitu
What they said yesterdayY.
Exciting times for ADA…
Saylor becomes existential…
# Bitcoin is just something you need in case you don’t die tomorrow.
– Michael Saylor (@michael_saylor) March 7, 2021
Bitcoin is life…
My wife goes through a box of old things. I see a paper with a seed phrase on it. I grab it and try to find out what kind of wallet it could be … Wife falls back, “these are the first words of your daughters, it’s not Bitcoin” pic.twitter.com/EIvZVtj9Lw
– Jonathan Caras (@madcapslaugh) March 7, 2021
Crypto AM Editor writes
Rangers become the newest club to win crypto sponsorship and fan tokens…
Bitcoin crashes for the second time in a week…
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March 31 to April 1, 2021 – Dubai
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It’s definitely tempting to get carried away with the excitement, but please heed these words of caution: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with that. Please note, however, that the content of this article is for informational purposes only and is not intended to be investment advice or any form of recommendation or invitation. City AM, Crypto AM, and Luno always recommend that you seek your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 08:30 GMT.