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Thiel warns of China as markets trade sideways

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Crypto at a glance

The crypto markets took another hit yesterday, but continue to look strong and the total market cap remains above $ 1.9 trillion. Will it now continue to fall after the weekend gains, or can the Bulls regain the initiative?

The price of Bitcoin is slightly down for a second day in a row, although it is still trading in the corridor between $ 56,000 and $ 60,000, where it is struggling to break through. It is currently just over $ 57,000. Resistance currently looks strong at $ 60,000, but support is also strong at $ 55,000. What will it take for a big move one way or the other?

It was a similar story elsewhere. Ethereum yesterday lost more than seven percent of its price to a low of $ 1,945.44, wiping out a week of gains and sending it below $ 2,000 for the first time since April 3. Can he hold on?

There is a sea of ​​red across the board today, although the losses are largely in the low percentages and a small dent in recent gains. This is particularly impressive given the deluge of FUD from mainstream media so far this week, mainly around China and regulation.

Much of this was the usual combination of disinformation and speculation regarding its environmental impact in China, as well as calls from people like JP Morgan CEO Jamie Dimon calling for increased speculation.

More interestingly, there was also Peter Thiel, the self-proclaimed libertarian and Bitcoin tech entrepreneur and maximalist, who suggested yesterday that Bitcoin should be treated as a “ Chinese financial weapon ” and subjected to stricter scrutiny from the States. United.

The comment was widely viewed as a suggestion that the U.S. government should get more involved in crypto and use it itself. Will they heed his warning?

All comments on Crypto AM Daily in association with Luno are welcome by email at [email protected]

On the stairs

The Bitcoin economy

*You will find definitions and information on https://bytetree.com/insights/

Total crypto market capitalization

The total capitalization of the entire cryptocurrency market at the time of writing is currently $ 1,929,987,559,189, up from $ 1,957,412,306,515 yesterday.

What Bitcoin Did Yesterday

We closed yesterday, April 7, 2021, at a price of $ 56,048.94 down from $ 58,192.36 the day before.

Yesterday’s daily high was $ 58,731.14 and the daily low was $ 55,604.02.

This time last year, the price of Bitcoin closed the day at $ 7,176.41. In 2019, it closed at $ 5,198.90.

Bitcoin market capitalization

Bitcoin market capitalization is $ 1.065 trillion at the time of writing, up from $ 1.080 trillion yesterday. To put this in context, the market capitalization of gold is $ 11,074 trillion and that of silver is $ 1,386 trillion.

Bitcoin volume

The total volume of spot transactions reported by all exchanges in the last 24 hours was $ 72,681,346,978, compared to $ 69,942,635,501 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be supported.

Volatility

Bitcoin price volatility over the past 30 days is 49.53%.

Index of fear and greed

Market sentiment remains in greed to 73.

Dominance of the Bitcoin market

The dominance of the Bitcoin market today is 56.81. His lowest dominance on record was 37.09 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 53.61. Values ​​of 70 or higher indicate that an asset is becoming overbought and may be initiated for a trend reversal or undergo a price correction, an RSI reading of 30 or less indicates an oversold or undervalued condition.

Convince Your Nan: Soundbite of the Day

Mobile wallets are happening to everyone on the planet, whether we like it or not. And if it doesn’t rely on Bitcoin controlled and owned by US investors and US companies running on US technology, spreading US values, spreading US dollar, it is going to rely on Chinese yuan Either US technology and fintech are going to be built on top of [the] 21st Century Bitcoin Crypto Asset Network. Or not, and the six billion people on the planet who need such a thing are going to turn to someone else. I mean the truth is they will probably go to Bitcoin, but instead of US dollars on Bitcoin they will use Chinese Yuan, renminbi on Bitcoin.

Michael Saylor, bull of bulls

What they said yesterdaand

What Peter Thiel said …

What he really meant …

Proof?

A shame…

Crypto AM Editor writes

Intelligence Brief Reveals Bitcoin Outperforms Gold But Ethereum Outperforms Bitcoin

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Crypto AM: longer reads

City AM Markets: What is Decentralized 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 traders view with TMG

Crypto AM: Mixing in the Metaverse with Dr. Chris Kacher

Crypto AM: legal talk

Crypto AM: Spotlight

Crypto AM: Founders Series

Crypto AM: Voices of the Industry

Crypto AM: Tiptoe through the Crypto with Monty Munford

Crypto AM: definitely DeFi

Five-Part Crypto AM Parliamentary Special Series

March 2021

Fifth part

Fourth part

Part three

Second part

Part one

Crypto AM: recommended events

AIBC World

May 25 to 26, 2021 – Dubai

https://aibc.world/events/uae/general-info/

Crypto AM City of London Roundtable

Crypto AM DeFi Summit and Digital Inclusion

And…

Crypto AM price 2021

Announcement soon!

Cautionary Notes

It is certainly tempting to get carried away by the excitement, but please heed these warning words: do your own research, invest only what you can afford, and make good decisions. We hope that the indicators in this article will help. Remember, however, that the content of this article is for informational purposes only and does not constitute investment advice or any form of recommendation or invitation. City AM, Crypto AM, and Luno always advise you to get your own independent financial advice before investing or trading in cryptocurrency.

All information is correct at 08:30 GMT.





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