Daily market update: Bitcoin falls back into ‘Greed’ zone

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All information is correct as of 09:00 BST

Bitcoin price

We closed yesterday, 19 August 2020, at a price of $11,758.28 – with a daily high of $12,028.92 and a low of $11,687.33.

The closing price was the lowest it’s been since 12 August 2019, when Bitcoin closed at $11,584.93. On the same day last year, Bitcoin closed at $10,916.05.

We’re still 40.3% below Bitcoin‘s all-time high of $20,089 (17 December 2017).

Market capitalisation

Bitcoin’s market capitalisation as of yesterday was $217,122,068,305, down from $221,413,097,553 yesterday. To put that into context, Jeff Bezos’s net worth is $188,500,000,000, which means he could only buy 86.8% of all Bitcoin. You can’t have everything, Jeff!

Bitcoin volume

The volume traded yesterday was $24,502,851,117. That’s the lowests it’s been since 16 August 2020.

To put that into context, the highest ever 24-hour volume is $53,060,690,000, last year’s high was $29,060,690,000, and last year’s average was $15,060,690,000.

Bitcoin’s market dominance

Bitcoin’s market dominance stands at 61.34, up again from 61.26 yesterday despite a drop in price as alts took a hit across the board. Its lowest recorded dominance was 37.09 on 8 January, 2018.

Fear and Greed Index

We’re fallen out of the Extreme Greed zone for the first time in a while, down to 75. This is to be expected, as the run in Extreme Greed was unprecedented. The question now is, which way is it going next? Extreme fear can be a sign that investors are too worried, which could be a buying opportunity. When Investors are getting too greedy, that means the market may be due for a correction.

Relative Strength Index (RSI)

The daily RSI is currently 56.91. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience correction in price. – an RSI reading of 30 or below indicates an oversold or undervalued condition.

Resistance and Support

What they said yesterday..

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