Daily market update: Bitcoin over $13,000 for first time since June 2019

Team Luno
Back to blog


3 minute read

Yesterday, we asked if bitcoin's surge over $12,000 could be sustained. It was, as it turns out, a silly question. Of course it could! Bitcoin hit a daily high over $13,000 for the first time since June 2019 and is still trading strong. 

 

There was good news all over for crypto fans, with PayPal also announcing that it’s to start supporting cryptocurrency, opening the doors to mass adoption on a scale never before seen. Will the good news continue today?  Now moon?

 

 

If you’re new to the world of crypto trading and want to make sense of all these indicators, check out our beginner’s guide to crypto trading series, featuring in-depth explorations of common strategiesmarket analysis techniques, and more.

 

All information is correct as of 08:30am BST.

 

Bitcoin price

 

We closed yesterday, 21 October, 2020, at a price of $12,823.69, with a daily high of $13,184.57 and a low of $11,900.93. That’s the highest closing price since 26 June 2019 and the first time we’ve been over $13,000 since 27 June.

 

We’re 36.17% below bitcoin‘s all-time high of $20,089 (17 December 2017).

 

As of today, buying bitcoin has been profitable for...

 

98.2% of all days since 2013-04-28.

 

Bitcoin volume

 

The volume traded yesterday was $43,414,712,626 – up from $30,915,821,592 the day before. That’s the highest daily trading volume since 11 September. High volume indicates that a significant price movement has stronger support and is more likely to be sustained.

 

Market capitalisation

 

Bitcoin’s market capitalisation as of yesterday was $237,532,386,963, up from $220,721,282,865 the day before. That’s the highest it's been since 13 January 2018.

 

Fear and Greed Index

 

Greed is back! The uncertainty we saw in September is now truly in the rear view mirror, with the sentiment Index continuing its ascent from 61 yesterday to 73 today. Extreme fear can be a sign that investors are too worried, which could be a buying opportunity. When Investors are getting too greedy, the market may be due for a correction.

 

 

Global In/Out of the money

 

For any address with a balance of tokens, ITB identifies the average price (cost) at which those tokens were purchased and compares it with the current price. If the current price is higher than average cost, address is ‘In the Money’. If the current price is lower than the average cost, the address is ‘Out of the Money’.

 

Chart provided by IntoTheBlock.com

 

Volatility

 

Annualised price volatility using 365 days.

 

Chart provided by IntoTheBlock.com

 

Bitcoin’s market dominance

 

Bitcoin's market dominance stands at 62.07. Its lowest recorded dominance was 37.09 on 8 January, 2018.

 

Relative Strength Index (RSI)

 

The daily RSI is currently 79.17. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.

 

Resistance and support

 

 

What they said yesterday…

 

 

 

 

 

 

What other data points would you like to see covered in our Daily Report? Let us know on Twitter.

Avatar Team Luno
Author

Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @lunomoney.

It’s never too late to get started

Buy, store and learn about Bitcoin, Ethereum, XRP and Litecoin now

Desktop Icon Apple App Store Logo Google Play Store Logo