Daily market update: Grayscale’s flagship Bitcoin fund up 90%

by Team Luno
· 2 minute read

Welcome to your daily update of all Bitcoin’s price movements yesterday, including price, volume, the fear and greed index, and more.

If you’re new to the world of crypto trading, check out our beginner’s guide to trading series, featuring in-depth looks at common strategies, market analysis techniques, and more.

The content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

Bitcoin price

We closed yesterday, 12 August 2020, at a price of $11,584.93 – with a daily high of $11,748.40 and a low of $11,249.61.

The closing price was up $202.31 on the same date last year and $174.40 dollars higher than the day before.

We’re still 41% below Bitcoin‘s all-time high of $20,089 (17 December 2017).

Market capitalisation

Bitcoin’s market capitalisation as of yesterday was $213,846,666,475. To put that into context, Jeff Bezos’s net worth is $188,500,000,000, which means he could only buy 88% of all Bitcoin. You can’t have everything, Jeff!

Bitcoin volume

The volume traded yesterday was $25,064,548,486. 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 transactions

In total, 348,619 bitcoin transactions were carried out yesterday.

Fear and greed index

Cryptocurrency remains stable in the Greed zone at 75 – the same as the day before. 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 60.67*. 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.

*information correct as of 09:00 BST

Resistance and support

What they said yesterday..

What other data points would you like to see covered in our Daily Report? Let us know on Twitter.

Did you find this useful?

0
1