The price of Bitcoin and other leading cryptocurrencies tumbled on Friday, as news spread that China’s central bank had again declared all crypto-related transactions illegal.But with the crypto markets already recovering their losses on Monday morning, the big question now is whether investors have become immune to China FUD? The People’s Bank of China’s notice forbidding banks and other financial institutions from offering services related to crypto is just the latest attempt by the government to stop its citizens using cryptocurrency, following years of notices, bans, forbiddings and crackdowns.Trading crypto-currency has officially been banned in China since 2019, though it has continued online through foreign exchanges.Bitcoin fell to a low of just below $41,000 on the news, but the leading cryptocurrency has already rallied to about $44,000 this morning–the same level as before the ban.It’s up roughly seven per cent since yesterday morning.Ether is also back above last week’s highs of more than $3,100 after again dipping below $3,000 on Friday.
It’s up 13 per cent over the past 24 hours..While it appears the news has not impacted the markets as much as many may have feared, the clampdown could arguably be said to have had a dampening effect on Twitter’s announcement last Thursday that its 330 million active users will soon be able to send Bitcoin to each other instantly and for virtually zero cost.The Crypto AM London Blockchain & DeFi Summit and Crypto AM Awards 2021 © Provided by City AM Day One will be held at ETC Fenchurch Street hosting the four Crypto AM City of London Roundtables so that delegates can meet and network with each other and learn from great discussions and talks.Day Two will be summit day (streamed and live audience) at the Leonardo Royal Hotel, St Paul’s, finishing with the black tie gala dinner in the same venue where the winners of the Crypto AM Awards 2021 will be revealed.For speaking opportunities, partnership packages or attendance (tickets will be strictly limited and by application) please email: [email protected] using the subject line ‘CRYPTOAM SUMMIT’.Crypto AM Awards 2021 Judges Announced Crypto AM is delighted to announce Luno as Gold Partner Crypto AM is delighted to announce Cudos as Gold Partner Crypto AM is delighted to announce MELD as Gold Partner Crypto AM is delighted to announce Umbria Network as Silver Partner Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can! The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time.And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.So, if you’re passionate about Bitcoin, why not join today? Click here to find out more! All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] 🙏🏻 *Definitions and insights can be found at https://bytetree.com/insights/ The total capitalisation of the entire cryptocurrency market at time of writing is currently $1,958,102,852,689.We closed yesterday, September 26 2021, at a price of $43,208.54 , up from $42,716.59 the day before.
The daily high yesterday was $43,919.30 and the daily low was $40,848.46.This time last year, the price of Bitcoin closed the day at $10,775.27.
In 2019, it closed at $8,251.85.Bitcoin’s market capitalisation at time of writing is $828.53 billion .To put it into context, the market cap of gold is $11.17 trillion and Facebook is $995.14 billion.The total spot trading volume reported by all exchanges over the last 24 hours was $33,234,083,681 .High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.The price volatility of Bitcoin over the last 30 days is 53.77% .
Market sentiment today is 26 , still in Fear.
Bitcoin’s market dominance today is 41.91 .Its lowest ever recorded dominance was 37.09 on January 8 2018.The daily RSI is currently 45.70 .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 – an RSI reading of 30 or below indicates an oversold or undervalued condition.“I like to say that Bitcoin’s kind of like Kenny from South Park — he dies every episode, and is back again.” Morgan Stanley Investment Management’s Dennis Lynch Big words, ja? For a population with 6.5 million people… Just another way to look at it… Bitcoin booms but Hong Kong listed crypto stocks slide in wake of China crackdown Cardano promises ‘industry-defining announcements’ at its biggest ever summit Binance probed over suspected insider trading Cardano Alonzo upgrade sees 100 smart contracts in first 24 hours Morgan Stanley to launch new research team led by Sheena Shah Bitcoin can now be purchased using the Post Office app Simon Nixon tells Seek Ventures to ramp up Bitcoin investment Bitcoin breaks $50,000 as magic monday gives cryptocurrencies a green start to the week Crypto AM: Spotlight Crypto AM: Founders Series Crypto AM: Industry Voices 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 Part one of two – April 2021 Part two of two – April 2021 Day one… Day two… Day three… Day four… Day five… For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube : Part one… Part two… 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.City AM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.All information is correct as of 08:00 BST The post What China crisis? Crypto markets rally despite Beijing clampdown appeared first on CityAM ..
