Morning update: July 22nd, 2021

week 20, BTC, update

Start up your day with our morning update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

Bitcoin managed to maintain yesterday its growth momentum and added almost 2 000 USD since yesterday, supported by Musk’s statement that Tesla could again accept bitcoins as payment. Most altcoins gained even more than the leader of the market and are in the green numbers.

Bitcoin (BTC) Bitcoin managed to add another 4% since yesterday and now is trading at 31,992 USD (all data from Coingecko.com).

Ethereum (ETH) is just below the level of 2,000 USD.

Total marketcap added also another 4% and is currently at 1.345 trillion USD.

Tip: You could be also interested in our article about inflation. 

News update

Bitcoin: Bitcoin’s price has rebounded more than 8% since Tuesday’s low. Meanwhile, the sentiment metric recorded by the Crypto Fear and Greed Index dropped to a low of 10 points, pointing to “extreme fear” in the market. The time is usually the best time to enter market. We have seen a growth since then and today the index reached 21 points.

Jack Dorsey: The ultimate goal of Bitcoin is world peace, Twitter and Square CEO Jack Dorsey said today. The tech entrepreneur made the comments at the ‘The B Word’ online conference. “My hope is that it [Bitcoin] creates world peace or helps create world peace,” he said. “It may sound a bit ridiculous but you fix that foundational level and everything above it improves. It is in the long-term but my hope is definitely peace.”

Tesla: Tesla CEO Elon Musk said while Bitcoin mining is steadily becoming more environmentally friendly through the use of renewable energy, he is not yet sure that it’s enough for Tesla to resume accepting the cryptocurrency as payment for purchases. The electric car manufacturer stopped accepting Bitcoin as payment for its vehicles in May, citing environmental concerns over the crypto mining process. This move, along with continued crackdowns on mining in China, triggered a market crash and is considered to be one of the key drivers of the end of Bitcoin’s historic bull run it had experienced in the first half of 2021.

NFT: Steve Job’s handwritten job application from 1973 in physical form and an accompanying digital NFT of the same item will go head to head in simultaneous auctions set to last for six days.

SEC: Securities and Exchange Commissioner (SEC) Hester Peirce voiced continued support for the regulator to approve a bitcoin exchange traded fund (ETF) during an appearance at an online conference, “The B Word,” on Wednesday.

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