ICO News

Markets pullback but Deloitte finds finance professionals bullish in long term – City A.M.


Crypto at a glance

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 three per cent over the past 24 hours but still up seven per cent over the past week.

It’s a similar story across the board, with alt coins experiencing even greater retraces. Ethereum is down around five per cent to $31,150, while Cardano and Dogecoin have seen even greater declines of around 8/9%. 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?

The Crypto AM London Blockchain & DeFi Summit will be held on September 20 and 30…

Day One will be held at ETC Fenchurch Street hosting the four Crypto AM City of London Roundtables so that delegates can meet and network with each other and learn from great discussions and talks.

Day Two will be summit day (streamed and live audience) at the Leonardo Royal Hotel, St Paul’s, finishing with the black tie gala dinner in the same venue where the winners of the Crypto AM Awards 2021 will be revealed.

For speaking opportunities, partnership packages or attendance (tickets will be strictly limited and by application) please email: events@cityam.com using the subject line ‘CRYPTOAM SUMMIT‘.

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 🙏🏻

Yesterday’s Crypto AM Daily in association with Luno

In the markets

The Bitcoin economy

*Definitions and insights can be found at https://bytetree.com/insights/

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, August, 2021 24, 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 January 8, 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…

Crypto AM editor’s pick

BlackRock backed crypto mining company sees record Q2 results

Bitcoin breaks $50,000 as magic Monday gives cryptocurrencies a green start to the week

Gibraltar to host first international post pandemic crypto event

CV Labs Partnership launches British crypto firm Evai onto Bittrex global exchange

Sudden rise of Solana takes crypto markets by surprise

OccamFi receives strategic investment from Cardano early stage VC Fund

Crypto AM: Longer Reads

City AM Markets: What is Decentralised Finance (DeFi) by Aave

Crypto AM: Conversation with James Bowater

Crypto AM: Market View in association with Ziglu

Crypto AM: Technically Speaking in association with Zumo

Crypto AM: A Trader’s View with TMG

Crypto AM: Tomorrow’s Money with Gavin S Brown

Crypto AM: Visions of the Future, Past & Present with Alex Lightman

Crypto AM Contributor: Jilian Godsil

Jonny Fry: Taking a Byte Out of Digital Assets

Jonny Fry Taking a Byte out of Digital Assets

Crypto AM: Spotlight

Crypto AM: Founders Series

Crypto AM: Industry Voices

Crypto AM: Tiptoe through the Crypto with Monty Munford

Crypto AM: Definitively DeFi

Crypto AM Parliamentary Special

Part one of two – April 2021

Part two of two – April 2021

Crypto AM Events

For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – 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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