Daily market update: Bitcoin hash rate hits new ATH
Happy Moonday, crypto fans. And what better way to start your week than another daily update of all Bitcoin’s latest market machinations, featuring price movements, volume, the fear and greed index, and an array of other useful and intriguing metrics you’ve been dying to see.
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All information is correct as of 09:00 BST
We closed yesterday, 16 August 2020, at a price of $11,892.80 – with a daily high of $11,934.90 and a low of $11,737.19.
The closing price was the highest its been since 8 August 2019, when Bitcoin closed at $11,966.41.
We’re still 39.8% below Bitcoin‘s all-time high of $20,089 (17 December 2017).
Bitcoin’s market capitalisation as of yesterday was $219,576,092,170. To put that into context, Jeff Bezos’s net worth is $188,500,000,000, which means he could only buy 85.8% of all Bitcoin. You can’t have everything, Jeff!
The volume traded yesterday was $20,583,375,490. That is the lowest it’s been since 9 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 60.37 – the lowest it’s been since 17 June 2019. Its lowest recorded dominance was 37.09 on 8 January, 2018.
Fear and Greed Index
We’re back in Extreme Greed at 83 – up 1 point from yesterday and 5 above last week’s average. 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 63.26*. 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..
Bitcoin’s hash rate has yet again hit a new ATH. ?
Miners know. pic.twitter.com/54MLtYdSCR
— ₿itcoin Magazine (@BitcoinMagazine) August 16, 2020
Eth supply still probably more known and with less inflation than any fiat.
Btc is bulletproof. Period.
No such talents in fiat space. Essential listening for newbs.https://t.co/9xNbIMetF7
— Dan Tapiero (@DTAPCAP) August 16, 2020
Three men walk into an airport. One has $1,000,000 in Gold.
The 2nd a million in cash. The 3rd has a 100 Bitcoin via a seed phrase memorized and backed up. Which one makes it to his destination? That’s why #Bitcoin wins!
— ₿ł₮-₣ł₦₭ ? (@Bit_Fink) August 17, 2020
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