Bitcoin hashrate hits all-time high
Bitcoin is down slightly trading just above the $37,000 threshold, while the price of Ethereum has seen a deeper drawdown, trading for $2,020 this morning.
The majority of large-caps have continued to slip since yesterday, with Polygon, Solana, Cardano, Polkadot and Avalanche all seeing losses in price overnight.
While the markets have taken a breather, the Bitcoin network has seen an increase in miners vying for business, with the Bitcoin hashrate hitting an all-time high earlier in the week. Bitcoin’s hashrate is the measure of how much computing power is being used to secure the Bitcoin network, and generally increases as mining rigs join the network.
Yesterday’s Crypto AM Daily
In the Markets
Total crypto market cap
🔵 $1.4 trillion
🔻 1.13%
What Bitcoin did yesterday
🔺 Daily high $37,563
🔻 Daily low $36,751
Bitcoin volume
Total spot trading volume $18.654 billion
🔺 13.02%
Ethereum staking entry queue
2 hours 44 minutes
SP500
🔻 0.2%
FTSE/JSE Top 40
🔻0.19%
Fear and Greed Index
Bitcoin’s market dominance
52.88
Relative Strength Index (RSI)
52
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, while 30 or below indicates an oversold or undervalued condition.
What they said yesterday
Crypto AM: Editor’s picks
Sam Altman retakes OpenAI throne – four days after being sacked
Kraken appoints crypto entrepreneur and fintech consultant Bivu Das to drive next chapter of UK growth story
TransformBase initiative set for launch in November
FCA’s new crypto advertising rules met with mixed industry response
ChatGPT urges crypto conference panel not to become over-reliant on AI
Sam Bankman-Fried: A tissue of lies soaked with fake tears?
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
Crypto AM: Features
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto on the catwalk
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. CityAM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.