Rumours of Apple Bitcoin purchase swirl on social media, but are they to be believed?

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Crypto at a glance

It’s another Red Sea today as all major cryptocurrencies have seen their prices fall in the past 24 hours.

Bitcoin is down about three percent to just over $ 33,000, which is in the same tight range that it has been trading in the last month or so. The situation is similar with Ethereum and other large alt-coins, most of which have also fallen by four to five percent. There is still talk of the calm before the storm, but the calm seems to last an awfully long time.

Ironically, according to blockchain intelligence company Glassnode, that period could be the result of the influx of institutional investors over the past year. In their daily newsletter, they noted that “2020 and 2021 will mark the arrival of financial institutions in the crypto space. We celebrated, we cheered. But we forgot one thing: the people who work at these financial giants love the summer vacation. ”Will all systems work again when they get back from their beach houses?

It may be quiet on the price front, but the rumor mill is still simmering. The big gossip that got around yesterday was that Apple will announce a massive investment in Bitcoin. While it can easily be described as social media fantasy land, it even found its way into mainstream media. With nearly $ 200 billion in cash in the last quarterly report, even a tiny fraction would be a huge sum. But is there some truth in that or just wishful thinking from Bitcoin fans?

Back in the real world, South America’s love affair with Bitcoin is getting stronger. Argentine Congressman José Luis Ramón tabled a bill last week that would allow workers to receive their full or partial salary in bitcoin. Ramón stated that this would mean that “Argentina can strengthen their autonomy and maintain the purchasing power of their remuneration”.

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All feedback on Crypto AM Daily in collaboration with Luno is welcome by email at James.Bowater@cityam.com 🙏🏻

Yesterday Crypto AM Daily in collaboration with Luno… https: //www.cityam.com/flat-weekend-for-crypto-but-future-looker-heller-than-ever/

In the markets

The bitcoin economy

* For definitions and insights, see https://bytetree.com/insights/

Total crypto market capitalization

The total capitalization of the entire cryptocurrency market at the time of writing is currently $ 1,343,880,583,037.

What Bitcoin did yesterday

We got yesterday, July 12th, 2021, at the price of. closed $ 33,155.85, from $ 34,240.19 the previous day.

The daily high was $ 34,592.16 yesterday and the daily low was $ 32,697.31.

Around this time last year, Bitcoin’s price closed the day at $ 9,243.61. In 2019, it closed at $ 11,392.38.

Bitcoin market capitalization

Bitcoin’s market capitalization at the time of writing is $ 618.98 billion. To put it in context, the market cap of gold is $ 11.508 trillion and Facebook is $ 1.001 trillion.

Bitcoin volume

The total spot trading volume reported by all exchanges in the last 24 hours was $ 22,184,868,490, from $ 21,879,909,920 yesterday. High volumes may indicate that significant price movement has stronger support and is more likely to be sustained.

volatility

Bitcoin’s price volatility over the past 30 days is 68.73%.

Fear and greed index

The market sentiment is today 20th

Bitcoin’s market dominance

Bitcoin’s market dominance is today 46.25, The lowest dominance ever recorded was 37.09 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 43.65. Values ​​of 70 or above indicate that an asset is being overbought and may be prepared for a trend reversal or price correction – an RSI of 30 or below indicates an oversold or undervalued condition.

Convince your Nan: Soundbite of the day

“2020 was a real breakthrough … interest in Bitcoin accelerated as the pandemic started.”

– Tom Jessop, President of Fidelity Digital Assets

What they said yesterday

Always good value

Wishful thinking?

All eyes on Apple today

If it turns out they really bought more than $ 2 billion in BTC, this could be the next #Bitcoin catalyst

– Simon Dedic (@scoinaldo) July 12, 2021

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Crypto AM events

Warning notices

It is certainly tempting to get carried away with the excitement, but please heed this warning: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with that. 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 seek your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 8:00 AM BST