With Ether breaking $ 1,500, MicroStrategy’s online event “Bitcoin for Corporations” could make BTC stratospheric
Crypto at a glance
So many all-time highs have been hit lately that it will be difficult to keep up, but seeing Ethereum above $ 1,500 will be especially satisfying for many in space. Now is it ready to follow Bitcoin’s December trajectory and launch into the stratosphere?
In fact, it’s good news everywhere today. Bitcoin has broken out of the range between $ 30,000 and $ 35,000. It needs to stabilize comfortably above the $ 35,000 level now to see a significant reversal of the trend, and there are several healthy indicators that suggest it has momentum in its favor. MicroStrategy’s Michael Saylor is also hosting his meeting today to teach public corporations how to buy Bitcoin. This is basically the equivalent of Martha Stewart’s Tupperware party. Is an institutional investment in Bitcoin set for another shot in the arm? A second dose if you will.
Elsewhere, Cardano continues to climb and hold above $ 0.40, UniSwap is still hovering around the $ 20 mark, and even XRP appears to have stabilized after its most recent roller coaster ride. Everything swims pretty well, really. Continue.
In the markets
The bitcoin economy
* For definitions and findings, see https://bytetree.com/insights/
What Bitcoin did yesterday
We are closed yesterday, February 2nd, 2021 at a price of $ 35,510.29 – from $ 33,537.18 the previous day. This is the highest daily closing since January 20th.
Bitcoin price has now closed above $ 30,000 for 32 days in a row and above $ 20,000 for 47 days in a row.
Yesterday’s daily high was $ 35,896.88 and the daily low was $ 33,489.22. It is the highest daily low since January 20th.
Around this time last year, Bitcoin price closed the day at $ 9,344.37. In 2019 it was $ 3,521.06.
To date, buying Bitcoin has been for …
99.9% every day since April 28, 2013.
Bitcoin market capitalization
Bitcoin’s market capitalization is currently $ 671,091,782,600, from $ 640,588,244,833 yesterday. That said, it stays in 12th place behind Alibaba. Jeff Bezos stepped down as CEO of Amazon yesterday with a personal fortune of $ 195 billion, meaning he couldn’t even buy a third of all bitcoin. Which means he will likely consider his time at Amazon a failure. Sorry, Jeff.
The volume traded in the last 24 hours was $ 65,102,585,376from $ 61,606,579,953 yesterday. 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 is 97.31%.
Fear and greed index
Market sentiment remains high at Extreme Greed at 78. It is uncommon to keep sentiment at this level over this period, and it could mean a correction is due.
Bitcoin’s dominance of the market
Bitcoin’s dominance of the market is currently 62.95. The lowest dominance ever recorded was 9/37 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is current 58.36. 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
“People will play bitcoin because there are 20 million bitcoins ever mined. People think it’s a store of value. It’s a social construct and you can’t change that. “
– Mike Novogratz, CEO of Galaxy Investment Partners
What they said yesterday …
Recall that Michael Saylor will personally pass Bitcoin to senior CEOs tomorrow
If you’re interested in the legal considerations companies face when integrating #Bitcoin into their corporate strategy, you are not alone. We have experts from more than 1,400 companies who will come to us tomorrow for this discussion. Your legal team still has time to attend. https://t.co/fid9nrZUfP
– Michael Saylor (@michael_saylor) February 2, 2021
Life is coming to you quickly
The $ 1200 stimulus was 7.64 ETH
It is now 0.8 ETH
– Crypto₿ull (@CryptoBull) February 2, 2021
Does this mean Twitter will pay its employees with Bitcoin?
An interesting idea
What if Elon took a Twitter break to find out how #bitcoin mining can be integrated into gigafactories, supercharger stations and solar rooftops?
– Samson Mow (@Excellion) February 2, 2021
Lots of blue ticks on crypto twitter these days
Bitcoin. Bitcoin. I have bitcoin. 🎵
– Soulja Boy (Drako) (@souljaboy) February 2, 2021
Crypto AM: Longer reads
City AM Markets: What is Aave’s Decentralized Finance (DeFi)?
Crypto AM: Market View in collaboration with Ziglu
Crypto AM: Technically, in collaboration with Zumo
Crypto AM: Talking Legal in collaboration with INX
Crypto AM: headlights
Crypto AM: Founders Series
Crypto AM: Industry voices
Crypto AM: Deeper Dives with Liam Roche
Crypto AM: A Trader’s View with TMG
Crypto AM: Walk the Crypto on tiptoe with Monty Munford
Crypto AM: Definitely DeFi
Crypto AM: Events in the Spotlight
Crypto AM: Recommended Events
Bitcoin for Business – MicroStrategy
February 3, 2021 – online – 12:00 p.m. – 4:45 p.m. EST
6th edition Global Blockchain Conference
February 9, 2021 – Dubai
Global DeFi Conference
February 10, 2021 – Dubai
Global investment in sustainable development
March 3-4, 2021 – Dubai
Global Technology Governance Summit
April 6-7, 2021 – Tokyo
It’s definitely tempting to get swept up in the excitement, but please keep these careful words in mind: 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. However, do not forget The content of this article is for informational purposes only and is not intended as investment advice or in 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.
Crypto AM Daily in collaboration with Luno