Bitcoin tests $ 40,000 again with positive vibes from Africa and Tesla
As I return to Switzerland after a weekend at home in Mallorca, I can’t help but think ‘Why London? Dubai, Switzerland and even Mallorca are ALL open for business with thriving blockchain communities that can reasonably be visited with obvious security measures.
Well the answer is simple: London is still one of the biggest cities in the world and it is its home away from home! Great minds with big plans abound, most notably World Mobile kicking off its token generation event tomorrow at a time when nation states like El Salvador and now it looks like Tanzania are gearing up for crypto.
But I’m afraid for London and the UK. We risk losing our status and potential if we cannot be more welcoming to the crypto world. Digital nomads are aptly named because they can lift sticks and go at any time. The government, the FCA and the Bank of England are taking note – it’s not just Covid’s illogical rules that will kill our recovery, it’s also a certainty if we continue not to support our blockchain community – they will leave and will settle elsewhere.
Crypto at a glance
What started out as another weekend of doom for Bitcoin turned to six pence yesterday as the leading cryptocurrency climbed 12% in the past 24 hours. It fell to $ 34,700 on Saturday, but is currently changing hands at just over $ 39,000 – the highest price since May 27. Can he now escape that $ 30,000 to $ 40,000 range he’s been stuck in for last month?
Market sentiment is at its highest level since early May, up to 28 on the Fear and Greed Index today. It is still in “fear”, but it represents a marked turnaround from the recent lows. And the positive vibes are understandable, with the good news continuing to pour in over the weekend.
First, the buzz around last week’s announcement that El Salvador will make Bitcoin legal tender continues. More and more countries are making noise around the adoption of the so-called Bitcoin standard, with Tanzania the latest to take action. Tanzanian leader Samia Suluhu Hassan this weekend called on the East African nation’s financial chiefs to prepare for cryptocurrency. Africa arguably has even more to gain than the Latin American countries pushing for adoption – can Tanzania set off a chain reaction on the continent?
Tesla CEO Elon Musk was also at the forefront again, with Dogecoin enthusiast and space enthusiast tweeting on Sunday that Tesla “will resume authorization of Bitcoin transactions” if and when there is. “Confirmation of reasonable (~ 50%) use of clean energy by miners with positive results. future trend ”. The tweet immediately sent Bitcoin through the resistance at $ 36,000, proving that the billionaire is still an influential player in the market. Is this a good thing? Will people care if he keeps pushing the price up rather than going down?
It’s still about Bitcoin again today, with its market dominance again reaching almost 46%. Ethereum (ETH), Binance Coin (BNB) and Cardano (ADA) are all up around seven percent, although still down on the week. Will they soon be able to regain lost ground?
For those of you who missed the Crypto AM DeFi & Digital Inclusion Online Summit, you can now watch the two-part event via YouTube.
Part one …
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On the stairs
The Bitcoin economy
* Definitions and ideas 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 $ 1,634,914,140,657.
What Bitcoin Did Yesterday
We closed yesterday June 13, 2021, at the price of $ 39,097.86.
Yesterday’s daily high was $ 39,322.78 and the daily low was $ 34,864.11.
Around the same time last year, the price of bitcoin closed the day at $ 9,386.79. In 2019, it closed at $ 8,693.83.
Bitcoin market capitalization
Bitcoin’s market cap at the time of writing is $ 741.91 billion. To put it in context, the market cap of gold is $ 11.831 billion and Facebook is $ 939.27 billion.
The total volume of spot transactions reported by all exchanges in the last 24 hours was $ 44,266,747,568. High volumes can indicate that a significant price movement has stronger support and is more likely to be supported.
Bitcoin price volatility over the past 30 days is 95.78%.
Index of fear and greed
Market sentiment today is 28.
The domination of the Bitcoin market
The dominance of the Bitcoin market today is 45.84His lowest dominance on record was 37.09 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 51.26. Values of 70 or more indicate that an asset is becoming overbought and may be ready for a trend reversal or price correction – an RSI reading of 30 or less indicates an oversold or undervalued condition.
Convince Your Nan: Soundbite of the Day
“I think the internet wants native currency and I think Bitcoin is probably the best manifestation of that yet.”
– Jack Dorsey, CEO of Twitter
What they said yesterday
A man on a mission …
Team effort …
Bitcoin is hope …
Crypto AM Editor’s Choice
Anonymous says video message to Elon Musk about Bitcoin meddling is not theirs
Bitcoin investors tire of Elon Musk’s boring tweets
Google is slowly opening its doors to cryptocurrency advertising
Cardano bridges gap with China by partnering with Nervos Blockchain
Crypto AM: longer reads
City AM Markets: What is Decentralized Finance (DeFi) by Aave
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in association with Ziglu
Crypto AM: technically speaking
Crypto AM: a trader’s perspective with TMG
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Legal Talking
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: voice of the industry
Crypto AM: Tiptoe Through Crypto With Monty Munford
Crypto AM: Definitely DeFi
Parliamentary Special Crypto AM
First part of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Part one …
Part of them…
Crypto AM: recommended events
Crypto Roundtable AM City of London
Crypto AM Blockchain & DeFi Summit
Crypto AM Awards 2021
September 29 and 30, 2021
It is certainly tempting to get carried away by the excitement, but please heed these warning words: do your own research, invest only what you can afford, and make the right decisions. The indicators in this article will hopefully help you. Please keep in mind, however, that the content of this article is 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 get your own independent financial advice before investing or trading in cryptocurrency.
All information is correct at 08:30 GMT.