Even in these dark times, remember Bitcoin could still bring some light to the world

Friday, May 27, 2022 11:07 a.m.

The week in review

with Jason Dean

Things have been tough lately for just about everyone everywhere – and this week was probably one of the worst so far this year.

The brutal school shooting in Texas has reignited the inevitable rights arguments against the lives of children in America while the rest of the world watches in bewilderment.

I’m actually old enough to remember the Dunblane and Hungerford shootings in the UK in the 1980s which led to the effective ban on private gun ownership here in the UK. I remember my father surrendering his Colt 45 revolver and his Tommy submachine gun during the gun amnesty period that followed. Although both were disabled, it just wasn’t worth keeping – and it turned out to be the right decision. These days, these guns would have given the owner a mandatory minimum sentence of five years.

Of course, that doesn’t stop a Brit like me from being amazed and even enthralled by the sight of stacks of high-powered weapons available for general sale to anyone over 21 in a store, like this one I visited last month in Texas.

And that may be the problem. If someone like me, who is totally against private gun ownership, always finds himself wanting to go to a gun store as a kind of tourist “when in Rome” activity, like visiting a museum, how much stronger must this attraction be for inhabitants for whom ownership is normalized? It’s something that kept me awake the other night.

Arms acquisition, of course, continues to be the main theme of President Zelenskyy’s speeches in various NATO countries via speeches that have grown in strength and tone in direct relation to the amount of territory the Russians win.

This progress is slow and costly in economic and human terms, but the ripple effect of war is also beginning to seriously strain food supply chains, adding to inflationary pressures and threatening a global humanitarian crisis.

Very magnanimously, Russia has offered to allow sea access to grain stored in storage silos, but only if sanctions against the country are lifted. It seems strange because Putin maintained that they were doing well with them in place. I’m not so sure it’s true.

Either way, markets continue to crash across all sectors and while Bitcoin is struggling with support, spare a thought for those with alternative coins. There has been a definite rotation from these to Bitcoin and Bitcoin’s dominance has steadily increased over the past few weeks, now sitting at 46% as of this morning.

Nonetheless, the drop in Bitcoin price has clearly encouraged some less profitable miners to shut down their machines and smooth the hashrate, resulting in a significant downward adjustment of well over 4% this week. It seems that the next adjustment may also take place in the same way.

Of course, the network remains incredibly robust and while we wait out the bad times, we have to remember that not only is now the best time to build, but what we are doing with Bitcoin can really help solve some of these problems. and help some of the most affected people.

And that’s an incredibly uplifting thought.

Have a good week-end!

Want to learn more about what’s going on in our global financial system and how Bitcoin fits into it? Come to my next free webinar on Tuesday, June 21 at 6 p.m. to find out, ask questions, and collect free Bitcoins*. Click here to register.

Would you like to help spread Bitcoin adoption and education in the UK and even stack sats while you do it? Well, now you can!

the Bitcoin Pioneers The 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 across the UK.

We share tips, stories, and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to the support of Luno, each trailblazer receives £500 worth of Bitcoin per month to share with newbies, helping them get started.

So if you’re passionate about Bitcoin, why not sign up today? Click here to know more !

All comments on Crypto AM Daily in association with Luno are welcome via email at [email protected] 🙏🏻

Yesterday’s Crypto AM Daily in association with Luno

In the markets

The Bitcoin Economy

*Definitions and ideas can be found at https://bytetree.com/research

Total Crypto Market Cap

The total capitalization of the entire cryptocurrency market at the time of writing is currently $1.202 trillion.

What Bitcoin Did Yesterday

We closed yesterday, May 26, 2022, at the price of $29,267.22. Yesterday’s daily high was $29,834.16 and the daily low was $28,261.91.

bitcoin market capitalization

The market capitalization of Bitcoin at the time of writing is $553.55 billion. To put it into context, the market capitalization of gold is $11.795 trillion and Tesla is $733.21 billion.

bitcoin volume

The total spot trading volume reported by all exchanges in the last 24 hours was $42.874 billion. High volumes may indicate that a large price move has stronger support and is more likely to be supported.

Volatility

Bitcoin price volatility over the past 30 days is 54.94%.

Fear and Greed Index

Market sentiment today is 12in Extreme Fear.

Bitcoin market dominance

Bitcoin market dominance today is 46.65. His lowest dominance on record was 37.09 on January 1, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 35.97. Values ​​of 70 or higher indicate that an asset is becoming overbought and may be primed for a trend reversal or undergoing a price correction – an RSI reading of 30 or lower indicates an oversold or undervalued condition.

Convince your grandmother: extract of the day

“Bitcoin is rules without rules.”

Michael Saylor, CEO of Microstrategy

what they said yesterday

Bitcoin is for everyone…

He has a point…

For the people by the people…

Crypto AM: Editor’s Picks

MPs are silent on the potential of cryptocurrency

Erica’s ‘Crypto Wars’ presented top honors at the Business Book Awards

‘Let the people invest’: Matt Hancock argues for liberal crypto rules

Explained: Why Treasury Is So Sold On Stablecoins

Worries crypto will be used to avoid ‘misplaced’ sanctions, says Matt Hancock

Meet the Hackers Helping People Recover Lost Crypto Assets

The Cryptocurrency Fundraisers Behind Ukraine’s Military Effort

Crypto-Crazy Couple Name Baby After Favorite Digital Asset

Cryptocurrency-loving parents Bruno Karno and his wife Agatha named their first-born Cardano after their favorite crypto.

Peter McCormack: Turning Bedford FC into a Global Bitcoin Brand

In an interview with Crypto AM, Bitcoin investor and podcaster Peter McCormack talks about his purchase of Bedford FC.

Crypto AM: Features

Crypto AM: Founders Series

https://www.cityam.com/profile/crypto-am-founders-series/

Crypto AM: Voice of the Industry

Changpeng 'CZ' Zhao, CEO of Binance

Crypto AM: Contributors

Crypto AM: Conversation with James Bowater

Landscape by Charles Hoskinson and James Bowater

Crypto AM: The Money of Tomorrow with Gavin S Brown

Tomorrow's Money with Gavin S Brown

Crypto AM: Mix in the Metaverse with Dr. Chris Kacher

Dr. Chris Kacher mixing in the Metaverse

Crypto AM: Visions of the Future, Past and Present with Alex Lightman

Alex Lightman Visions of the future, past and present

Crypto AM: Tiptoeing Through Crypto with Monty Munford

Monty Munford stole the lead

Crypto AM: Extracting a Byte from Digital Assets with Jonny Fry

Jonny Fry takes a byte on digital assets

Crypto on the Podium

Stefania Barbaglio Crypto on the podium

Crypto AM: Events

For those of you who missed the 2021 Crypto AM DeFi & Digital Inclusion Online Summit – you can now watch the two-part event via YouTube

part one

https://www.youtube.com/watch?v=dvqNMNZTIDE

Second part

https://www.youtube.com/watch?v=WXhX_-Tr5j0

Cautionary Notes

It’s certainly tempting to get carried away with the excitement, but please heed these caveats: do your own research, only invest what you can afford, and make good decisions. The indicators in this article will hopefully help you. Remember though, 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 obtain your own independent financial advice before investing or trading in cryptocurrency.

All information correct as of 08:00 BST

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