Be excited about crypto – even if you don’t understand it
![](https://www.cityam.com/wp-content/uploads/2021/11/crypto-am-daily-5.jpeg?w=512)
The Friday Crypto Comment
With Jason Deane
Good morning from Covent Garden! I’m currently writing this from my hotel room after having the pleasure of MCing Day 2 of DeFi Live in Kensington which wrapped last night in a very hip and cool after party.
I’ll be honest, I’m a little groggy this morning.
It actually surprised some people that I was there since my entire focus is usually all things Bitcoin, but, although that’s true, I’d be daft not to try and keep up with all the developments that are going in the space generally.
And the word ‘try’ is entirely appropriate. In a world full of ever evolving buzzwords and ideas, the rate of development and level of creativity is simply astonishing. Every panel or speaker I had the privilege of inviting to the stage spoke authoritatively and passionately on developments that are barely more than conceptual ideas, yet the amount of momentum and investment that is moving into these areas is undeniable.
As a man now in his fifties, I’ve sometimes wondered if my age is a handicap in such a fast moving industry. I constantly found myself asking excited people half my age (who, in most cases, seem to be launching new global NFT airdrop platforms with token based governance systems from their phones while they are waiting in the queue to get lunch) what x or y term means.
Reassuringly, however, what was also clear from this event is that even the people shaping it right now are still not entirely universally clear on definitions, boundaries and rules themselves. A Twitter Spaces I was attending earlier this week, for example, consisted of a large group of established crypto people of all ages and disciplines trying to define exactly what the metaverse is. We universally agreed that no-one had sufficiently nailed it.
So, as I return to my usual day to day of Bitcoin analysis and scrutinising the macroeconomic landscape we find ourselves in (something that, ironically, seems reassuringly mundane by comparison) the lesson I take away is this:
Be excited and curious about what lies ahead for crypto, but don’t worry if you don’t understand it all fully.
It seems, right now, no-one does for sure.
Have a great weekend!
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Yesterday’s Crypto AM Daily in association with Luno
![price of Bitcoin](https://www.cityam.com/wp-content/uploads/2021/11/crypto-am-daily-5.jpeg?w=512)
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,822,050380,462, down from $2,855,092,948,994 yesterday.
What Bitcoin did yesterday
We closed yesterday, November 11 2021, at a price of $64,949.96, down from $64,995.23 the day before. The daily high yesterday was $65,579.01 and the daily low was $64,180.49.
This time last year, the price of Bitcoin closed the day at $15,701.34. In 2019, it closed at $8,757.79.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $1.217 trillion. To put it into context, the market cap of gold is $11.816 trillion and Tesla is $1.068 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $35,138,543,843, down from $50,797,268,038 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 42.78%.
Fear and Greed Index
Market sentiment today is 74, still in Greed.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.31. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 58.13. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.
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Bloomberg
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Crypto AM: Features
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
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Crypto AM: Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Day one…
Day two…
Day three…
Day four…
Day five…
Crypto AM: Events
Cautionary Notes