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Cardano leads the charge as crypto markets start the week with a buzz – City A.M.


Monday 09 January 2023 11:02 am

The price of Bitcoin saw gains of 2.88% over the last week, while Ethereum’s price has increased by 8% over the same period. 

Topping $17,250, Bitcoin is having its strongest day since the start of the new year. Again, ditto for Ethereum, which is trading at $1,310 this morning.

The real price action is happening in third-generation crypto markets where Cardano has added 18% to its price in the last day and 28% over seven days. Solana is up by 22% since yesterday and a remarkable 48% in the last week.

Analysts expect the latest numbers from the Consumer Price Index, out on Thursday, to impact investor sentiment.

Friday’s Crypto AM Daily in association with Luno

In the markets

The Bitcoin economy

*Data can be found at https://terminal.bytetree.com/ 

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently  $814,437 billion.

What Bitcoin did yesterday

We closed yesterday, January 9, at a price of $17,067. The daily high yesterday was $16,997, and the daily low was $16,924.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $323.32 billion. To put it into context, the market cap of gold is $12.137 trillion and Tesla is $397.03 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $13.79 billion. 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 23.-2%.

Fear and Greed Index

Market sentiment today is 26, in Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 41.76. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 38.65. 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

“Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.” 

— Leon Luow, Nobel Peace prize nominee

What they said yesterday

Breaking! BlackRock adds #Bitcoin to its list of assets for its Global Allocation Fund.It’s far from dead.— Michaël van de Poppe (@CryptoMichNL) January 5, 2023

JUST IN: ?? Judge rules that Celsius users gave up legal rights to their BTC by using the platform and all the $4.2 billion of crypto deposits are now property of Celsius.Take your #bitcoin off exchanges!— Bitcoin Magazine (@BitcoinMagazine) January 5, 2023

In the year 1900, when the automobile was 14 years old, horse and carriage dominated the streets. That changed soon after. Today, bitcoin is 14 years old. pic.twitter.com/FL5CTKHM36— Tuur Demeester (@TuurDemeester) January 5, 2023

Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats 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 ??

Crypto AM: Editor’s picks

Sam Bankman-Fried: A tissue of lies soaked with fake tears?

Three-in-four wealth managers are gearing up for more cryptocurrency exposure

Crypto.com granted FCA licence to operate in UK

Q&A with Duncan Coutts, Principal Technical Architect at IO Global

Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’

MPs are falling silent over potential of cryptocurrency

Erica’s ‘Crypto Wars’ handed honours in Business Book Awards

‘Let people invest’: Matt Hancock makes case for liberal crypto rules

Explained: Why the Treasury is so sold on stablecoins

Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock

The cryptocurrency fundraisers behind Ukraine’s military effort

Crypto AM: Features 

Crypto AM: Founders Series 

https://www.cityam.com/profile/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

Crypto on the catwalk

Crypto AM: Events

For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube

Part One

https://www.youtube.com/watch?v=dvqNMNZTIDE

Part Two

https://www.youtube.com/watch?v=WXhX_-Tr5j0

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

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Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.