Bitcoin marches on with 4% lift after smashing through $46,000

THE price of Bitcoin is up more than 4% overnight, trading for around $46,700 this morning.

Ethereum is up more than 2%, with many of its younger peers trading in line with the original smart contracts cryptocurrency. 

The Fear and Greed Index is back in Greed after idling for a few weeks in Neutral. 

Analysts say there are strong signals in the Bitcoin market, with the price rising above its 50-day moving average after a long period of market consolidation. 

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In the Markets

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Total crypto market cap

$1.76 trillion (+3.10%)

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What Bitcoin did yesterday

 Daily high $46,727 |  Daily low $45,254

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Bitcoin market capitalisation

$913 billion (+4.40%)

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Bitcoin volume

$29.36 billion (+19.18%)

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SP500

+0.057%

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Fear and Greed Index

62 (Greed) 

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Bitcoin’s market dominance

53.38

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)

68.75

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.