{"id":31888,"date":"2022-10-13T11:27:51","date_gmt":"2022-10-13T11:27:51","guid":{"rendered":"https:\/\/egrowonline.com\/?p=31888"},"modified":"2022-10-13T11:27:51","modified_gmt":"2022-10-13T11:27:51","slug":"bitcoin-and-ethereum-resilient-as-altcoins-stumble","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=31888","title":{"rendered":"Bitcoin and Ethereum resilient as altcoins stumble"},"content":{"rendered":"


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\t\t\tThursday 13 October 2022 11:08 am\n\t<\/p>\n<\/header>\n

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The so-called crypto winter continues to cool down cryptocurrency markets with little price movements, especially for established cryptocurrencies, in the last few days. <\/p>\n

Bitcoin is trading around $19,000 this morning, down 0.68% from yesterday. Ethereum is down 1.55% on the day, changing hands for $1,277. The two largest cryptocurrencies by market cap are holding steady compared to other cryptocurrencies such as Uniswap and Chainlink, which are well in the red today, down 7.25% and 8% over respectively.\u00a0<\/p>\n

Traditional markets are also navigating similar territory, with the S&P 500 now having notched six successive days in the red. Today\u2019s consumer price index (CPI) numbers to be released by the Fed will no doubt lead to investor action after what\u2019s been a slow week, whether it\u2019s bearish or bullish remains to be seen.<\/p>\n

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Have you booked your tickets for the Crypto AM Summit and Awards? Click here\u2026 Crypto AM Summit & Awards 2022 \u2013 CityAM<\/a><\/p>\n

Yesterday\u2019s Crypto AM Daily in association with Luno<\/strong><\/h2>\n
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In the markets<\/strong><\/h2>\n
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The Bitcoin economy<\/strong><\/h2>\n
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*Definitions and insights can be found at https:\/\/bytetree.com\/research<\/a>\u00a0<\/p>\n

Total crypto market cap<\/strong><\/h2>\n

The total capitalisation of the entire cryptocurrency market at time of writing is currently\u00a0 $903.829 billion.<\/strong><\/p>\n

What Bitcoin did yesterday<\/strong><\/h2>\n

We closed yesterday, 12 October 2022, at a price of $19,157.45.<\/strong> The daily high yesterday was $19,203.20<\/strong> and the daily low was $19,029.76<\/strong>.<\/p>\n

Bitcoin market capitalisation<\/strong><\/h2>\n

Bitcoin\u2019s market capitalisation at time of writing is $364.85 billion<\/strong>. To put it into context, the market cap of gold is $11.076 trillion and Tesla is $675.83 billion.<\/p>\n

Bitcoin volume<\/strong><\/h2>\n

The total spot trading volume reported by all exchanges over the last 24 hours was <\/strong>$25.528 billion<\/strong>.<\/strong> High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.<\/p>\n

Volatility<\/strong><\/h2>\n

The price volatility of Bitcoin over the last 30 days is 36%.<\/strong><\/p>\n

Fear and Greed Index<\/strong><\/h2>\n

Market sentiment today is 20<\/strong>, in Extreme Fear.<\/p>\n

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Bitcoin\u2019s market dominance<\/strong><\/h2>\n

Bitcoin\u2019s market dominance today is 41.85<\/strong>. Its lowest ever recorded dominance was 37.09 on January 1 2018.<\/p>\n

Relative Strength Index (RSI)<\/strong><\/h2>\n

The daily RSI is currently 44.26<\/strong>. <\/strong>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 \u2013 an RSI reading of 30 or below indicates an oversold or undervalued condition.\u00a0<\/p>\n

Convince your Nan: Soundbite of the day<\/strong><\/h2>\n
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\u201cBitcoin is deliberately amoral, it has no requirements to entry and asks nothing of the user aside from a valid signature.\u201d\u00a0<\/em><\/strong><\/p>\n

Nic Carter, General Partner at Castle Island Ventures<\/p>\n<\/blockquote>\n

What they said yesterday<\/strong><\/h2>\n

To put things in perspective, Twitter has 400m users\u2026<\/strong><\/p>\n

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#Bitcoin<\/a> took 6 months to get 1000 users; 5 years to find 1 million users.<\/p>\n

Today, 13.8 years from inception, it has 300m+ users, 4% of the world. <\/p>\n

At current growth rates, 1 billion users will be hit in the next 3 years. That’s 12% of the world. pic.twitter.com\/akMbNySaGw<\/a><\/p>\n

\u2014 Willy Woo (@woonomic) October 12, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Keep it up\u2026<\/strong><\/p>\n

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What a steal\u2026<\/strong><\/p>\n

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Barry Silbert\u2019s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.<\/p>\n

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 \u00a3500 of Bitcoin a month to share with beginners, helping them get started.<\/p>\n

So, if you\u2019re passionate about Bitcoin, why not join today?<\/strong> Click here<\/strong><\/a> to find out more!<\/strong><\/p>\n

All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com<\/a> 🙏🏻<\/p>\n

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Crypto AM: Editor\u2019s picks<\/strong><\/h2>\n

Three-in-four wealth managers are gearing up for more cryptocurrency exposure<\/strong><\/p>\n

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Crypto.com granted FCA licence to operate in UK<\/strong><\/p>\n

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Q&A with Duncan Coutts, Principal Technical Architect at IO Global<\/strong><\/p>\n

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Jamie Bartlett \u2013 on the trail of the missing \u2018Cryptoqueen\u2019<\/strong><\/p>\n

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MPs are falling silent over potential of cryptocurrency<\/strong><\/p>\n

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Erica\u2019s \u2018Crypto Wars\u2019 handed honours in Business Book Awards<\/strong><\/p>\n

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\u2018Let people invest\u2019: Matt Hancock makes case for liberal crypto rules<\/strong><\/p>\n

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Explained: Why the Treasury is so sold on stablecoins<\/strong><\/p>\n

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Fears crypto is used to avoid sanctions \u2018misplaced,\u2019 says Matt Hancock<\/strong><\/p>\n

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The cryptocurrency fundraisers behind Ukraine\u2019s military effort<\/strong><\/p>\n

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Crypto crazy couple name baby after favourite digital asset<\/strong><\/p>\n

\"Cryptocurrency-loving<\/a><\/figure>\n

Crypto AM: Features\u00a0<\/strong><\/h2>\n

Crypto AM: Founders Series\u00a0<\/strong><\/p>\n

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https:\/\/www.cityam.com\/profile\/crypto-am-founders-series\/<\/a><\/figcaption><\/figure>\n

Crypto AM: Industry Voices\u00a0<\/strong><\/p>\n

\"Changpeng<\/a><\/figure>\n

Crypto AM: Contributors\u00a0<\/strong><\/h3>\n

Crypto AM: In Conversation with James Bowater<\/strong><\/p>\n

\"Charles<\/a><\/figure>\n

Crypto AM: Tomorrow\u2019s Money with Gavin S Brown<\/strong><\/p>\n

\"Tomorrow's<\/a><\/figure>\n

Crypto AM: Mixing in the Metaverse with Dr Chris Kacher<\/strong><\/p>\n

\"Dr<\/a><\/figure>\n

Crypto AM: Visions of the Future, Past & Present with Alex Lightman\u00a0<\/strong><\/p>\n

\"Alex<\/a><\/figure>\n

Crypto AM: Tiptoe through the Crypto with Monty Munford\u00a0<\/strong><\/p>\n

\"Monty<\/a><\/figure>\n

Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry<\/strong><\/p>\n

\"Jonny<\/a><\/figure>\n

Crypto on the catwalk<\/strong><\/p>\n

\"Stefania<\/a><\/figure>\n

Crypto AM: Events<\/strong><\/h3>\n

For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 \u2013 you can now watch the event in two parts via YouTube<\/p>\n

Part One<\/strong><\/p>\n

https:\/\/www.youtube.com\/watch?v=dvqNMNZTIDE<\/a><\/p>\n

Part Two<\/strong><\/p>\n

https:\/\/www.youtube.com\/watch?v=WXhX_-Tr5j0<\/a><\/p>\n

Cautionary Notes<\/strong><\/h3>\n

It\u2019s 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,\u00a0<\/em><\/strong>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.<\/em><\/strong><\/p>\n

All information is correct as of 08:00 BST<\/em><\/strong><\/p>\n