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Discover News Daily briefing: Crypto markets recover after fresh US Central Bank
comments


DAILY BRIEFING: CRYPTO MARKETS RECOVER AFTER FRESH US CENTRAL BANK COMMENTS

January 12, 2022 · 5 minute read
by Team Luno


The crypto markets have picked up slightly this morning, with the price of
bitcoin slowly recovering from its worst start to a year since 2012. The leading
cryptocurrency is currently changing hands for just below $43k, up around 2.5%
since yesterday morning.


The slight recovery comes amid an uptick in investor sentiment across global
financial markets. The uptick follows remarks yesterday at a US Senate banking
committee by Federal Reserve chairman Jay Powell that the central bank would do
everything it could to stop inflation from “becoming entrenched”. He also added
that inflation was expected to peak in the middle of the year, and indicated
that a dramatic increase in interest rates may not be necessary. US technology
stocks rose yesterday on the news, while in the UK, the FTSE 100, which measures
blue chip stocks, has hit its highest level in almost two years.


Elsewhere in the crypto markets, alt coins have seen a bigger increase.
Ethereum, the second-largest cryptocurrency, is up 5% over the past 24 hours,
currently trading for around $3,500.




Name PricePrice Change (24h)Price change (7 days)Bitcoin
(BTC)$42,569.74+0.97%–8.37%Ethereum (ETH)$3,227.17+3.67%–15.53%XRP
(Ripple)$0.7647+2.02%–8.18%Litecoin (LTC)$132.26+2.70%–10.77%Bitcoin Cash
(BCH)$372.42+1.80%–13.46%


TOTAL CRYPTO MARKET CAP

The total capitalisation of the entire cryptocurrency market at time of writing
is currently $2,010,523,399,765 up from $1,954,659,246,584 yesterday.


WHAT BITCOIN DID YESTERDAY

We closed yesterday, January 11 2022, at a price of $42,735.85, up from
$41,821.26 the day before. The daily high yesterday was $43,001.16 and the daily
low was $41,407.75.

This time last year, the price of Bitcoin closed the day at $33,922.96. In 2020,
it closed at $8,192.49.


BITCOIN MARKET CAPITALISATION

Bitcoin’s market capitalisation at time of writing is $808.94 billion. To put it
into context, the market cap of gold is $11.559 trillion and Tesla is $1.068
trillion.


BITCOIN VOLUME

The total spot trading volume reported by all exchanges over the last 24 hours
was $25,581,403,876 down from $33,374,369,519 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 42.51%.


FEAR AND GREED INDEX

Market sentiment today is 22, in Extreme Fear.




BITCOIN’S MARKET DOMINANCE

Bitcoin’s market dominance today is 40.27. Its lowest ever recorded dominance
was 37.09 on January 8 2018.


RELATIVE STRENGTH INDEX (RSI)

The daily RSI is currently 33.25. 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 predict that 1/3 of Americans will own Bitcoin this year.”
> 
> $260 billion asset manager founder Ric Edleman


WHAT THEY SAID YESTERDAY

TJ was on to something



Talk about being early 🤣



Bitcoin is inevitable



_______________________________________________

11/1/2022

The price of bitcoin has managed to hold above $42,000, after yesterday falling
briefly below the psychologically important $40,000 level for the first time
since September of last year. As in September, it rebounded almost immediately .
At time of writing, the largest cryptocurrency by market cap was changing hands
for $41,872. It’s still down nearly 10% since this time last week, and more than
35% down from the all-time high it saw in November.

Name PricePrice Change (24h)Price change (7 days)Bitcoin
(BTC)$42,202.39+0.53%–9.06%Ethereum (ETH)$3,115.92–1.47%–17.01%XRP
(Ripple)$0.7497–0.54%–9.29%Litecoin (LTC)$129.00–1.25%–13.09%Bitcoin Cash
(BCH)$367.29–1.95%–14.96%


TOTAL CRYPTO MARKET CAP

The total capitalisation of the entire cryptocurrency market at time of writing
is currently $1,954,659,246,584 down from $1,978,270,061,030 yesterday.


WHAT BITCOIN DID YESTERDAY

We closed yesterday, January 10 2022, at a price of $41,821.26, down from
$41,911.60 the day before. The daily high yesterday was $42,199.49 and the daily
low was $39,796.57.

This time last year, the price of Bitcoin closed the day at $35,566.66. In 2020,
it closed at $8,166.55.


BITCOIN MARKET CAPITALISATION

Bitcoin’s market capitalisation at time of writing is $796 billion. To put it
into context, the market cap of gold is $11.476 trillion and Tesla is $1.062
trillion.


BITCOIN VOLUME

The total spot trading volume reported by all exchanges over the last 24 hours
was $33,374,369,519 up from $21,001,790,399 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 42.4%.


FEAR AND GREED INDEX

Market sentiment today is 21, in Extreme Fear.




BITCOIN’S MARKET DOMINANCE

Bitcoin’s market dominance today is 40.83. Its lowest ever recorded dominance
was 37.09 on January 8 2018.


RELATIVE STRENGTH INDEX (RSI)

The daily RSI is currently 30.97. 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

“Bitcoin is the only economic entity where the supply is unaffected by the
demand.”

— Legendary investor and self-confessed Bitcoin bull, Bill Miller.


WHAT THEY SAID YESTERDAY

In it for the long game

Greener than gold



We miss you, Hal! You made history that day



_______________________________________________

10/1/2022


The bitcoin price continues to hold above the psychologically-important $40k
level this morning – a level it hasn’t fallen below since September 2021. It’s
been a rough start to the year in the cryptocurrency markets, but will we see a
turnaround this week?


There were at least some positive signs over the weekend that the momentum could
be shifting. Saturday marked the first day in 2022 that the largest
cryptocurrency has closed the day higher than the day before. It also achieved a
similar feat on Sunday, bringing a welcome stability after a torrid week for
global financial markets. Bitcoin is currently changing hands for just below
$42k – up 0.2% on yesterday morning, but more than 10% down on this time last
week and almost 40% below its all-time high of $67k.


January is historically a weaker month for bitcoin, but an increasingly-likely
interest rate rise in the US has meant so far the price performance has been
weaker than usual. Global stocks last week lost almost $2 trillion in market
capitalisation, with investors seemingly spooked by minutes for the US central
bank that suggested interest rate increases were incoming. Friday’s US labor
market report also showed that the unemployment rate had fallen to 3.9%, further
increasing the likelihood that the Fed will hike rates in March.


Name PricePrice Change (24h)Price change (7 days)Bitcoin
(BTC)$41,950.09+0.11%–10.62%Ethereum (ETH)$3,163.15+0.82%–16.79%XRP
(Ripple)$0.7537+0.05%–10.89%Litecoin (LTC)$130.73–0.21%–12.99%Bitcoin Cash
(BCH)$374.76–1.05%–15.43%


TOTAL CRYPTO MARKET CAP

The total capitalisation of the entire cryptocurrency market at time of writing
is currently $1,978,270,061,030.


WHAT BITCOIN DID YESTERDAY

We closed yesterday, 9 January 2022, at a price of $41,911.60, up from
$41,733.94 the day before. The daily high yesterday was $42,663.95 and the daily
low was $41,338.16.

This time last year, the price of Bitcoin closed the day at $38,356.44. In 2020,
it closed at $8,166.55.


BITCOIN MARKET CAPITALISATION

Bitcoin’s market capitalisation at time of writing is $794.59 billion. To put it
into context, the market cap of gold is $11.384 trillion and Tesla is $1.031
trillion.


BITCOIN VOLUME

The total spot trading volume reported by all exchanges over the last 24 hours
was $21,001,790,399. 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 42.97%.


FEAR AND GREED INDEX

Market sentiment today is 23, in Extreme Fear.




BITCOIN’S MARKET DOMINANCE

Bitcoin’s market dominance today is 40.37. Its lowest ever recorded dominance
was 37.09 on January 8 2018.


RELATIVE STRENGTH INDEX (RSI)

The daily RSI is currently 29.88. 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 have a lot of hope for Bitcoin.”
> 
> Joe Rogan


WHAT THEY SAID YESTERDAY

Keep that faith



It’s all about clean energy



One of the greatest humanitarians of our time?



_______________________________________________

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