Good morning forty! Party time as Bitcoin tops $ 40,000

Greetings from Canary Wharf, London, where my guests are just arriving to celebrate the (belated) third birthday of Crypto AM.

Aside from the serious celebrations and the ‘unlocking summer’ as the rain clouds are undoubtedly bursting real British style, it will be my great pleasure to announce that the Crypto AM London Blockchain & DeFi Summit will be held on May 29th and 30th. September will take place.

The first day takes place in two pavilions that host the Crypto AM City of London Roundtables so that delegates can meet and network with one another 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.

The tickets are strictly limited and available on request.

Crypto at a glance

Bitcoin price rose back to around $ 40,000 this morning after falling to $ 36,000 yesterday as the markets continue to look volatile this week. It’s currently up more than 7% in the last 24 hours and 30% since last Wednesday.

However, price activity and the recent spate of adoption news courtesy of Elon Musk and Jack Dorsey appear to have brought positive sentiment back to the market. The Fear and Greed Index, which measures market sentiment, has risen to “neutral” at 50 – its highest level since early May. The Fear & Greed Index fell as low as 10 on Wednesday July 21st and has seen steady growth since then as general sentiment improved. We are still a long way from the euphoria from November to March, when the index rarely fell below 90, but could the momentum shift?

More positively, the daily trading volume for Bitcoin hit $ 9.2 billion on Monday, the highest since June 22nd. A report by Arcane Research and Luno noted, “The rising volume amid the strength of Bitcoin suggests that the strong recovery supported by an influx of buyers is a healthy sign for the market.

“It should be noted, however, that trading volume trended lower and was below $ 3 billion for four consecutive days before bursting in the middle of yesterday’s rebound. Overall, the seven-day average trading volume remains well below its annual average, and Bitcoin trading activity appears to have been low so far this summer. ”

The big question now is whether yesterday’s surge was an isolated incident or the beginning of a broader trend reversal.

The recovery comes today as calls for increased regulation of cryptocurrency in the US continue, developments that would normally scare the market but appear to have had limited impact. In an open letter to US Treasury Secretary Janet Yellen on Monday, US Senator and longtime crypto-skeptic Elizabeth Warren called on the Financial Stability Oversight Council (FSOC) to develop a regulatory strategy to “mitigate the growing risks cryptocurrencies are exposed to represent the financial system ”. “.

Regulation has had a positive effect on acceptance in the past. So if handled correctly, it could be a win-win situation.

Today, Cudos proudly presents the Crypto AM 3rd Birthday Summer Party to unlock at the Boisdale of Canary Wharf

A fantastic champagne reception in collaboration with World Mobile, followed by a 3-course summer lunch with a wonderful Mirabeau Azure Rosé! Followed by the chance to finally meet and network with the community to the rousing beats of a Mediterranean beach club.

There will be a main keynote by Pete Hill of CUDOS, a community keynote by Jason A Deane of Bitcoin Pioneers and a panel discussion on the “State of the Crypto Union”, moderated by Dr. Chris Cleverly from Tingo International Holdings & KamPay. On the podium are Julian Sawyer from Bitstamp, Jeanette Seng from Mantle, Rufus Round from GlobalBlock Digital Trading Assets, Martha Reyes-Hulme from BEQUANT and Konstantin Anissimov from CEX.IO

I’m also delighted to announce that Ted Byron Baybutt, director of the British sci-fi thriller Slammer, will be showing an exclusive screening of the film’s trailer. He’s bringing his film crew with him, so who knows? At the end of the day, the participants could act in the film.

I am very grateful to our partners CUDOS, World Mobile, BEQUANT, Bitstamp, CryptoCompare, CEX.IO, Bitcoin Pioneers & GlobalBlock Digital Asset Trading, whose generosity enables everyone to participate for free.

Would you like to help spread the introduction and formation of Bitcoin in the UK and even pile up some sats while you do so? Well now you can!

the 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’re passionate about 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 🙏🏻

Yesterday Crypto AM Daily in collaboration with Luno

Crypto AM Daily new header

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 $ 1,546,946,846,506.

What Bitcoin did yesterday

We got yesterday, July 27th, 2021, for the price of. closed $ 39,406.94, down from $ 37,337.53 the previous day.

The daily high was $ 39,406.94 yesterday and the daily low was $ 36,441.73.

Around this time last year, Bitcoin’s price closed the day at $ 10,912.82. In 2019, it closed at $ 9,552.86.

Bitcoin market capitalization

Bitcoin’s market capitalization at the time of writing is $ 742.97 billion. To put it in context, gold’s market cap is $ 11.459 trillion and Facebook is $ 1.042 trillion.

Bitcoin volume

The total spot trading volume reported by all exchanges in the last 24 hours was $ 37,165,810,948, from $ 40,680,137,837 yesterday. 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 53.4%.

Fear and greed index

The market sentiment is 50 today.

Bitcoin’s market dominance

Bitcoin’s market dominance is today 49.21, The lowest dominance ever recorded was 37.09 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 70.05. 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

“I definitely don’t believe in driving up the price and selling or anything like that. I want to see Bitcoin successful. “

– Elon Musk, spaceman

What they said yesterday

Big sums …

Someone just sent $ 368 million #Bitcoin with just a few clicks.

Total cost = 76 cents (yes, that’s right!)
Try gold! 😂

– Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) July 27, 2021

People have a lot of time …

HODLing …

About 54.1% of all #Bitcoins in circulation have not moved for more than a year.

– Bitcoin (@Bitcoin) July 27, 2021

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Crypto AM parliamentary special offer

Part one of two – April 2021

Part two of two – April 2021

Five-part series – March 2021

Part One…

Second part…

Part three…

Part four …

Part 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 that. Remember, however, that 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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