Celebrities come out for crypto, but will Iron Mike have diamond hands?
Crypto at a glance
The Bitcoin price continues to hold above $30,000 again today, although it’s now down eight per cent on this time last week.
The largest cryptocurrency by market value spent the weekend trading in an increasingly narrow range between $31-33k. It continues to hold up stronger than the rest of the market, with Ethereum down four per cent over the past 24 hours.
There was good news this weekend, however, albeit from dreaded ‘anonymous sources’. CoinDesk reported that Bank of America has approved trading in Bitcoin futures for some clients, although could only say that their sources had ‘knowledge of the matter’. Which is at least better than citing sources without any knowledge of the matter. If true, it would be another domino in the list of financial giants to have made Bitcoin available to its clients during the last year.
In more concrete good news, the city of Jackon, Tennessee, is looking to allow residents to pay their property taxes with Bitcoin. Mayor Scotten Conger is a vocal advocate of Bitcoin and has laser eyes on his Twitter profile picture. He was joined by Mike Tyson and Busta Rhymes this weekend, who were both active on social media letting the world know their feelings on the subject. Celebrities tweeting about Bitcoin? Is the bull run really over?
Cudos proudly presents the Crypto AM 3rd Birthday Unlocking Summer Party at Boisdale of Canary Wharf on Wednesday July 28…
The Crypto AM 3rd Birthday Unlocking Summer Party is a go!
An amazing champagne drinks reception followed by a three course summer lunch washed down with beautiful Mirabeau Azure Rosé! Followed by the chance to finally catch up and network with the community to the intoxicating beats of a Mediterranean beach club.
There will be a main keynote from Matt Hawkins, Founder & CEO of CUDOS, a community Keynote from Jason A Deane of Bitcoin Pioneers and a panel discussion around the ‘State of the Crypto Union’ moderated by Crypto AM contributor Alex Lightman.
I’m also delighted to announce that Ted Byron Baybutt the Director of British Sci-Fi Thriller ‘Slammer’ will be exhibiting an exclusive screening of the trailer to the film. He’s bringing his film crew so who knows? Attendees might end up featuring in the film.
I’m hugely grateful to our partners CUDOS, World Mobile, BEQUANT, Bitstamp, CryptoCompare, CEX.IO, Bitcoin Pioneers & GlobalBlock Digital Asset Trading whose generosity is enabling everyone to attend free of charge.
I am holding ten tickets for readers to attend – if you’d like to apply please email me directly with your name, company and contact details explaining why you‘d like to attend. I will let the lucky applicants know who they are next Wednesday.
My email address is James.Bowater@cityam.com
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some stats while you’re doing it? Well, now you can!
The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping 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 association with Luno is welcome via email to James.Bowater@cityam.com ??
Friday’s Crypto AM Daily in association with Luno…
In the markets
| Name | Price | Price Change (24h) | Price change (7 days) |
| Bitcoin (BTC) | $31,802.72 | -0.24% | -7.42% |
| Ethereum (ETH) | $1,908.48 | -2.50% | -11.38% |
| XRP (Ripple) | $0.5875 | +0.12% | -10.18% |
| Litecoin (LTC) | $120.06 | -1.35% | -12.78% |
| Bitcoin Cash (BCH) | $441.36 | -1.03% | -12.53% |
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 $1,270,396,920,960.
What Bitcoin did yesterday
We closed yesterday, July 18 2021, at a price of $31,796.81, up from $31,533.07, the day before.
The daily high yesterday was $32,399.00 and the daily low was $31,215.49.
This time last year, the price of Bitcoin closed the day at $9,185.82. In 2019, it closed at $10,530.73.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $596.77 billion. To put it into context, the market cap of gold is $11.46 trillion and Facebook is $967.34 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $17,309,332,496. 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 59.67%.
Fear and Greed Index
Market sentiment today is 24.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 46.47, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 41.50. 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.
Convince your Nan: Soundbite of the day
“I would call it a digital property; it’s a threat to property; it’s particularly a threat to other forms of property. Gold is property; real estate is property. I don’t think the United States government is threatened by real estate or buildings or companies or gold.”
– M Saylor, MicroStrategy CEO
What they said yesterday
More US politicians come out in support…
Will Iron Mike have iron grip?
Turn it up…
Currency or property?
Crypto AM editor’s picks
Cardano leapfrogs Bitcoin as eToro clients most held cryptocurrency
Coinbase gets green light from German regulators
Nukkleus acquires London based Match Financial
Binance given the boot by UK financial watchdog
Ripple outpacing Bitcoin among UK crypto investors
Crypto AM: Longer Reads
City AM Markets: What is Decentralised Finance (DeFi) by Aave
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in association with Ziglu
Crypto AM: Technically Speaking in association with Zumo
Crypto AM: A Trader’s View with TMG
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Talking Legal
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Definitively DeFi
Crypto AM Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Part one…
Part two…
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 via YouTube…
Part one:
Part two:
Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. City AM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 08:00 BST