Markets pullback but Deloitte finds finance professionals bullish in long term

Crypto at a Glance

will crypto recover 2021

 

The cryptocurrency markets are broadly down this morning, as the majority experience pullback after recent strong performances. A total of $150 billion in value was wiped off the total value of the cryptocurrency market over the last 24 hours, though it’s still holding at over $2 trillion.

 

After breaking above $50,000 earlier this week for the first time since May, bitcoin has now fallen back to around $48,000 as of time of writing – down more than 3% over the past 24 hours but still up 7% over the past week.

 

It’s a similar story across the board, with alt coins experiencing even greater retraces. Ethereum is down around 5% to $31,150, while XRP and Bitcoin Cash have seen even greater declines of around 7%. Will they recover before the weekend?

 

In the news, Deloitte’s recent blockchain report has found that the majority of financial professionals expect digital assets to replace government-issued currencies within a decade. In the survey, 76% said bitcoin and crypto could serve as an alternative to or replacement for fiat currencies in the next five to 10 years. Will they be proved right?

 

Name  Price Price Change (24h) Price change (7 days)
Bitcoin (BTC) $48,437.32 –2.80% +6.97%
Ethereum (ETH) $3,207.21 –4.43% +4.59%
XRP (Ripple) $1.17 –7.36% +4.46%
Litecoin (LTC) $177.50 –5.30% +3.93%
Bitcoin Cash (BCH) $654.02 –4.12% +2.31%

 

Total crypto market cap

 

The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,088,431,111,122.

 

What bitcoin did yesterday

 

We closed yesterday, 25 August, 2021, at a price of $47,706.12 down from $49,546.15 the day before.

 

The daily high yesterday was $49,878.77 and the daily low was $47,687.12

 

This time last year, the price of bitcoin closed the day at $11,366.14. In 2019, it closed at $10,138.52.

 

Bitcoin market capitalisation

 

Bitcoin’s market capitalisation at time of writing is $909.88 billion. To put it into context, the market cap of gold is $11.415 trillion and Facebook is $1.03 trillion.

 

Bitcoin volume

 

The total spot trading volume reported by all exchanges over the last 24 hours was $31,845,570,556. 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 47.32%.

 

Fear and Greed Index

 

Market sentiment today is 73.

 

Bitcoin’s market dominance

 

Bitcoin’s market dominance today is 44.31, Its lowest ever recorded dominance was 37.09 on 8 January, 2018.

 

Relative Strength Index (RSI)

 

The daily RSI is currently 63.82. 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

 

“Crypto’s not a fad. There are elements of this, certainly, that feel a little speculative and bubbly… but if we zoom out and look at the secular 10-, 20-year trend… we view crypto as a fundamental enabling component of this new digital world.”

— Meltem Demirors, Influencer

 

What they said yesterday…

 

Relentless

 

 

 

Big

 

 

 

Nice

 

 

 

–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
25/08/2021

 

The price of bitcoin has shot above $50,000 for the first time in 3 months, as the crypto markets continue to recover after their recent malaise. The leading cryptocurrency by market cap is currently up 2.5% over the last 24 hours, changing hands for around $50,300. That’s the highest it’s been since 15 May. It’s still down $14,000 since the all-time highs it set that month, but can the swing in momentum see it outstrip even those?

 

The causes of the recent price increase are less easy to pinpoint than earlier in the year, when a confluence of factors from Elon Musk to a wave of institutional investment saw demand for the cryptocurrency soar. Many institutional players are, however, continuing to make steps into crypto, with JPMorgan and Wells Fargo in particular recently expanding their offerings. There’s also been an influx of asset managers filing for ETFs that invest in bitcoin futures, after Securities and Exchange Commission chair Gary Gensler earlier this month indicated that he could approve such funds. Retail volumes, however, remain stubbornly low relative to earlier in the year. Will hitting the psychologically-important $50k landmark help bring them back?

 

Bitcoin’s breakout is echoed by a wider pump across the cryptocurrency markets. Ethereum, and XRP are both also up about 3%, as the total market cap of all crypto again rises above $2.1 trillion.

 

Name  Price Price Change (24h) Price change (7 days)
Bitcoin (BTC) $50,118.68 +1.77% +5.70%
Ethereum (ETH) $3,325.02 +1.91% +1.26%
XRP (Ripple) $1.24 –0.57% –4.74%
Litecoin (LTC) $187.61 –0.77% +0.18%
Bitcoin Cash (BCH) $680.59 –1.19% –2.59%

 

Total crypto market cap

 

 

The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,149,526,992,228.

 

What bitcoin did yesterday

 

We closed yesterday, 22 August, 2021, at a price of $49,321.65 up from $48,905.49 the day before.

 

The daily high yesterday was $49,471.61 and the daily low was $48,199.94.

 

This time last year, the price of bitcoin closed the day at $11,664.85. In 2019, it closed at $10,407.97.

 

Bitcoin market capitalisation

 

Bitcoin’s market capitalisation at time of writing is $943.25 billion. To put it into context, the market cap of gold is $11.351 trillion and Facebook is $1.013 trillion.

 

Bitcoin volume

 

The total spot trading volume reported by all exchanges over the last 24 hours was $30,324,583,394. 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 53.89%.

 

Fear and Greed Index

 

Market sentiment today is 79.

 

 

Bitcoin’s market dominance

 

Bitcoin’s market dominance today is 44.45, Its lowest ever recorded dominance was 37.09 on 8 January, 2018.

 

Relative Strength Index (RSI)

 

The daily RSI is currently 71.98. 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

 

“It’s digital gold. I would like to see every single household in my city receive some level of bitcoin, whether it be $500 or $1,000.”

 

—  Jayson Stewart, Mayor of Cool Valley (a real place)

What they said yesterday…

 

Zoom out

 

 

 

Many have

 

 

 

Incoming

 

Name  Price Price Change (24h) Price change (7 days)
Bitcoin (BTC) $47,145.37 +5.94% +2.12%
Ethereum (ETH) $3,227.33 +7.32% +0.66%
XRP (Ripple) $1.23 +8.75% +19.42%
Litecoin (LTC) $176.04 +5.62% +0.27%
Bitcoin Cash (BCH) $658.14 +4.76% +3.74%

 

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,036,064,201,236.

What bitcoin did yesterday

We closed yesterday, 19 August, 2021, at a price of $46,717.58 down from $44,801.19 the day before.

The daily high yesterday was $46,970.76 and the daily low was $43,998.32.

This time last year, the price of bitcoin closed the day at $11,878.37. In 2019, it closed at $10,763.23.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $885.54 billion. To put it into context, the market cap of gold is $11.368 trillion and Facebook is $1.001 trillion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $36,645,351,621 up from $31,052,421,500. 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 52.82%.

Fear and Greed Index

Market sentiment today is 70.

 

 

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.04, Its lowest ever recorded dominance was 37.09 on 8 January, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 66.92. 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 censorship resistant money.”

— Anthony Pompliano, American entrepreneur, investor, and host of The Pomp Podcast (formerly Off The Chain)

What they said yesterday…

Ed’s take

 

What rhymes with Bitcoin?

 

Another crypto-sport sponsorship

 

The crypto markets are holding steady again this morning, with the Bitcoin price flat again over the last 24 hours. The leading cryptocurrency is currently changing hands for just below $45k, roughly the same as it was yesterday.

Other leading cryptocurrencies including Ethereum and XRP have also seen limited movement of less than 1% either way. The big news yesterday was that Facebook Diem, formerly Libra, is ready to come to market. The crypto markets stayed flat on the news, apparently unimpressed by the latest twist on the ongoing saga.

The project’s co-creator David Marcus noted in a blog post announcing the news that: “We feel that it’s unreasonable to delay delivering the benefits of cheaper, interoperable, more accessible digital payments.”

He also added that: “I strongly believe if there was ever a chance to create an open, interoperable protocol for money on the internet and truly change the game for people and businesses around the world, it is now.” Will it be Diem, though?

 

Name  Price Price Change (24h) Price change (7 days)
Bitcoin (BTC) $44,502.76 –1.74% –1.71%
Ethereum (ETH) $3,007.11 –1.85% –4.11%
XRP (Ripple) $1.13 +0.76% +13.49%
Litecoin (LTC) $166.31 –2.69% –1.49%
Bitcoin Cash (BCH) $628.10 –1.95% +1.51%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $1,912,047,487,011.

What bitcoin did yesterday

We closed yesterday, 18 August, 2021, at a price of $44,801.19 down from $44,695.36 the day before.

The daily high yesterday was $45,952.06 and the daily low was $44,364.03.

This time last year, the price of bitcoin closed the day at $11,758.28. In 2019, it closed at $10,916.05.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $835.08 billion. To put it into context, the market cap of gold is $11.323 trillion and Facebook is $1.002.

 

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $31,052,421,500 up from $35,060,464,885. 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 53.33%.

Fear and Greed Index

Market sentiment today is 70.

 

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.25, Its lowest ever recorded dominance was 37.09 on 8 January, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 59.57. 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 to pay Bank of America $25 to make a wire today that’s going to take 24h. That’s ones and zeros. They’re making money for doing nothing. Bitcoin and crypto can get rid of that friction.”— Alexis Ohanian, Reddit co-founder in 2014

What they said yesterday…

Emerging markets making waves

 

The institutional influx continues

Incredible to see this happening.

— Pomp 🌪 (@APompliano) August 18, 2021

Worth a read

Cryptocurrencies are mostly down today, with Bitcoin continuing its relatively flat week as it takes a breather after recent excitement. The market leader hit a low of $44,000 early this morning, though it is currently back changing hands for just over $45k. That’s still down more than 2% over both the past 24 hours and 2% over the past 7 days.

It’s been a slow week generally for the market leaders BTC and ETH, without any notable breakouts. The two cryptocurrencies have been unable to push above resistance levels around $48,000 for BTC and around $3,300 for ETH. This is despite the ongoing positive vibes in the market, with the Fear and Greed Index that measures market sentiment continuing to sit comfortably in the “Greed” area. It has now been in the “Greed” area for more than a week, the first time it’s had such a prolonged streak since early May.

The big concern continues to be relatively-low volumes, with the activity on the leading spot exchanges declining again of late. The 7-day average real bitcoin trading volume pushed towards $7 billion last week, but we’re now back down to $5 billion. As noted by Arcane Research, “it’s not surprising, nor concerning, to see the volume decline when the BTC price stays flat. However, if the price starts pushing higher again on declining volume, it can signify an exhausted market, and it will probably not be a sustainable move. We want to see a clear uptick in volume if the BTC price jumps up towards $50k again.” Will we see that happen this week?

 

Name  Price Price Change (24h) Price change (7 days)
Bitcoin (BTC) $45,323.83 –0.89% –2.26%
Ethereum (ETH) $3,066.40 –2.47% –5.26%
XRP (Ripple) $1.12 –3.13% +24.82%
Litecoin (LTC) $170.96 –3.88% –1.43%
Bitcoin Cash (BCH) $640.83 –4.45% +4.43%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $1,933,687,469,055.

What bitcoin did yesterday

We closed yesterday, 17 August, 2021, at a price of $44,695.36 down from $46,004.48the day before.

The daily high yesterday was $47,139.57 and the daily low was $44,512.42.

This time last year, the price of bitcoin closed the day at $11,991.23. In 2019, it closed at $10,345.81.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $853.5 billion. To put it into context, the market cap of gold is $11.401 trillion and Facebook is $1.01 trillion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $35,060,464,885 up from $31,293,873,482. 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 55.81%.

Fear and Greed Index

Market sentiment today is 73.

 

 

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.70, Its lowest ever recorded dominance was 37.09 on 8 January, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 62.44. 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 isn’t so much a bubble as ‘the last functioning fire alarm’ warning us of some very big geopolitical changes ahead.”

— Financial Times (Feb, 2021)

What they said yesterday…

 

From shark tank to bull tank

 

Ready?

 

The countdown begins

 

–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
18/08/2021

The total market cap of all cryptocurrencies hopped back above $2 trillion this weekend for the first time since 19 May, as digital assets across the board continue to trade higher. Bitcoin has been edging closer to the psychological $50,000 level for a week now, though bitcoin’s total daily volume remains flat compared to earlier in the year. Will they need to pick up before we can say the bull market is back on with any confidence?

Today marks the fiftieth anniversary of Richard Nixon’s decision to remove the dollar from the gold standard, a seismic event in financial history and one many cite as why bitcoin is now a superior currency and store of value. Will a moment of serendipity see Bitcoin hit $50k? The largest cryptocurrency is currently trading for around $47,500, up 3% over the last 24 hours and 9% over the last 7 days.

Ethereum and other alt coins also continue to see gains. Ethereum is changing hands for $3,276 at time of writing, up 3.6% over the past 24 hours. XRP is the big gainer this week though, up more than 60% over the past 7 days. It’s currently trading at $1.30. Can they both continue their winning streak?

 

Name  Price Price Change (24h) Price change (7 days)
Bitcoin (BTC) $47,400.79 +2.29% +8.68%
Ethereum (ETH) $3,283.59 +1.99% +12.01%
XRP (Ripple) $1.30 +0.68% +64.13%
Litecoin (LTC) $186.60 +3.64% +25.76%
Bitcoin Cash (BCH) $698.67 +1.76% +26.08%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,038,340,653,018.

What bitcoin did yesterday

We closed yesterday, 15 August, 2021, at a price of $47,047.00, down from $47,096.95 the day before.

The daily high yesterday was $47,357.11 and the daily low was $45,579.59.

This time last year, the price of bitcoin closed the day at $11,892.80. In 2019, it closed at $10,374.34.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $888.76 billion. To put it into context, the market cap of gold is $11.276 trillion and Facebook is $1.023 trillion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $33,898,353,330. 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 53.99%.

Fear and Greed Index

Market sentiment today is 72.

 

 

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.36, Its lowest ever recorded dominance was 37.09 on 8 January, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 69.36. 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 adoption, as measured by the number of people who own Bitcoin, is growing faster than internet adoption. However, the commercialization of the internet was the ultimate insider’s game. Rich white men, venture capitalists, and favored institutional investors got in early. By contrast, since its birth, Bitcoin has been available to anyone with a cell phone.”

— Samantha Messing B.A. with Honors, Political Science, Brown University ’21, Member of the Brown Women’s Varsity Soccer Team, Recipient of the Alan Zuckerman Award for “Build It, and She Will Soar: Title IX and Athletics as a Road to Social Equity”

What they said yesterday…

 

Look how far we’ve come…

 

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