Thursday, December 16, 2021, 11:11 a.m.
Bitcoin’s price hovered at just over $ 49,000 this morning, up around 1.5 percent over the past 24 hours. It is now roughly balanced compared to its value a week earlier.
The big news yesterday was the announcement by the US Federal Reserve that it would keep the US benchmark interest rate in the current range between zero and 0.25 percent. The decision was watched with eagle eyes in global financial markets, with many anticipating a spike amid mounting fears of inflation.
A number of analysts have suggested that this is one of the reasons behind Bitcoin’s recent poor price performance, as high interest rates offer people safe returns on their capital elsewhere, which could lead to a sell-off. Will the decision to keep interest rates low give Bitcoin a base to regain its recent all-time highs in the future?
The other highly anticipated Federal Reserve announcement yesterday also turned out to be slightly disappointing as officials said they would accelerate steps to cap the monetary stimulus that is propping markets amid COVID.
The monetary stimulus has been attributed the strong performance in both the crypto and stock markets over the past year, but the lack of price movement after the announcement suggests that both investors may have expected the program to run faster.
Ethereum does even better, with the second largest cryptocurrency up five percent in the past 24 hours and back above the $ 4,000 mark.
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Yesterday Crypto AM Daily in collaboration with Luno
In the markets
The bitcoin economy
* Definitions and findings can be found at https://bytetree.com/insights/
Total crypto market capitalization
The total capitalization of the entire cryptocurrency market at the time of writing is currently $ 2,254,364,650,064, away $ 2,202,375,554,062 yesterday.
What Bitcoin did yesterday
We got yesterday, December 15, 2021, for the price of. closed $ 48,896.72, down from $ 46,612.63 the previous day. The daily high was $ 49,473.96 yesterday and the daily low was $ 46,671.97.
Around this time last year, Bitcoin’s price closed the day at $ 21,310.60. In 2019, it closed at $ 6,932.48.
Bitcoin market capitalization
Bitcoin’s market capitalization at the time of writing is $ 923.07 billion. To put it in context, the market cap of gold is $ 11.345 trillion and Tesla is $ 980.14 billion.
The total spot trading volume reported by all exchanges in the last 24 hours was
$ 36,312,534,194, on from $ 31,276,955,656 the day before. High volumes may indicate that any significant price move has stronger support and is more likely to be sustained.
Bitcoin’s price volatility over the past 30 days is 58.43%.
Fear and greed index
The market sentiment is today 29, in fear.
Bitcoin’s market dominance
Bitcoin’s market dominance is today 41.11. The lowest dominance ever measured was 37.09 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 39.81. A reading of 70 or above indicates that an asset is being 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
“Bitcoin and the ideas behind it will disrupt traditional notions of currency. In the end, the currency will be better for it. “
Edmund Moy, 38th director of the United States Mint
What they said yesterday
That’s what we call adoption …
💥BREAKING: # Bitcoin-supported mortgages are being launched by LEDN! 🚀
– Bitcoin archive 🗄🚀🌔 (@BTC_Archive) December 15, 2021
Money printing poses the greatest risk to the middle class and our economy. They sustain one of the largest bubbles in history, where hardworking Americans are least protected from their savings being wiped out. You have to get serious about #Bitcoin before it’s too late https://t.co/17YHiU4APg
– Natalie ₿runell (@natbrunell) December 15, 2021
Crypto AM: Editor’s Recommendations
Exclusive: FTSE tracks the development of the Digital Asset Index in Crypto Push
(Photo by Lionel Healing / Getty Images)
Crypto could give London a unique post-Brexit advantage, says Hammond
Diamond claws: crypto trading hamster dies after outstanding investment career
New cryptocurrency called ‘JRR Token’ blocked by lawyers for Lord of the Rings creator Tolkien
El Salvador is building Bitcoin city at the foot of the volcano
Bitcoin’s long-awaited taproot upgrade is here
Bitcoin’s long-awaited taproot upgrade has just hit the home network.
NFTs to fund new cryptocurrency film
Krypto AM: features
Krypto AM: Spotlighthttps://www.cityam.com/bumper-set-to-fire-up-its-liquidity-provision-program-today/embed/
Crypto AM: Founder Series https://www.cityam.com/using-blockchain-to-overcome-the-challenge-of-universal-connectivity/embed/
Crypto AM: Industry voices https://www.cityam.com/the-unforeseen-reputational-risks-of-nfts-and-how-to-avoid-them/embed/
Krypto AM: Contributors
Crypto AM: In conversation with James Bowaterhttps://www.cityam.com/creating-a-future-of-access-to-financial-tools-for-everyone-with-meld/embed/
Crypto AM: Tomorrow’s Money with Gavin S Brownhttps://www.cityam.com/will-tesla-change-direction-on-bitcoin-again/embed/
Crypto AM: Mixing in the Metaverse with Dr. Chris Kacherhttps://www.cityam.com/the-metaverse-is-here-and-even-facebook-is-getting-on-board/embed/
Crypto AM: Visions of the Future, Past and Present with Alex Lightman https://www.cityam.com/e-naira-digitising-nigeria-improving-lives-and-advancing-national-infrastructure/embed/
Crypto AM: Tiptoe through the Crypto with Monty Munford https://www.cityam.com/ive-spotted-curious-similarities-between-bitcoin-and-the-taliban/embed/
Crypto AM: Get a byte out of digital assets with Jonny Fry
Crypto AM: Parliamentary Special Offer
Part one of two – April 2021https://www.cityam.com/the-government-is-cautious-about-crypto-but-i-think-well-get-there/embed/
Part two of two – April 2021https://www.cityam.com/opening-our-eyes-to-financial-inclusion-for-the-good-of-the-economy/embed/
Five-part series – March 2021
Day two …https://www.cityam.com/financial-institutions-should-consider-appointing-ai-officers/embed/
Day three …https://www.cityam.com/dlt-may-not-be-the-silver-bullet-but-its-worth-a-shot/embed/
Day four …https://www.cityam.com/theres-a-real-prize-for-the-uk-to-lead-when-it-comes-to-distributed-digital-id/embed/
Day five …https://www.cityam.com/we-need-to-strap-a-rocket-to-the-governments-fintech-thinking/embed/
Krypto AM: Events
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, do not forget The content of this article is provided 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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