Bitcoin steadies the ship as altcoins are buoyed

BITCOIN continues to trade above the crucial level of $40,000 this morning, edging into positive territory. 

As some of the next-gen cryptos follow the market-leader into the green, Ethereum remains in the red as it trades for around $2,200. 

Trading volume on exchanges globally is down by more than 30% in the last 24 hours. Lower volumes are often an indication of market consolidation after a period of volatility. 

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In the Markets

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Total crypto market cap

$1.56 trillion (+0.30%)

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What Bitcoin did yesterday

 Daily high $40,535 |  Daily low $39,510

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Bitcoin market capitalisation

$786.62 billion (+0.24%)

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Bitcoin volume

$20.1 billion (-34%)

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SP500

+0.081%

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Fear and Greed Index

50 (Neutral) 

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Bitcoin’s market dominance

51.88

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The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by bitcoin at a given time.

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Relative Strength Index (RSI)

49.68

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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.

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Post Script…

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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. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.