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Bitcoin bounces back above the $50,000 level

By David Burrows

07:46, 24 December 2021

Bitcoins and wallet. Photo: Alamy
Bitcoin fell sharply in early December. Photo: Alamy

Bitcoin bounced back over the $50,000 mark today – in early morning trading UK time, it was up over 5% to $50,972.

Other cryptos rose too – Ethereum was up over 3% to $4,093.64; Binance Coin was up over 4% to $545.81 while Litecoin was up over 6% to $163.90.

Earlier this week, Bitcoin passed the $49,000 mark after trading below the $50,000 level for most of December.

The crypto had a mixed experience since the crash at the beginning of December. The initial crash was seen as a buying opportunity, however investor appetite fell away as crypto markets continued to show in the red.


0.63 Price
-6.240% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


0.00 Price
-10.630% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.00000338


0.10 Price
-4.130% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.0012872


2,246.16 Price
-4.970% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

Late December pick-up

As reported in earlier this week, the cryptocurrency started picking up from 21 December onwards.

At the time, the cryptocurrency research firm Santiment responded to the move, saying: “Bitcoin’s social metrics remain slightly bearish, though they are starting to react positively to the price momentum.”

It added: “It may be prudent to keep an eye on bitcoin’s sentiment chart in particular. Assuming we see another break above $50,000 in days to come, a new wave of retail euphoria may signal renewed danger for the benchmark coin.”

Read more: Positive sentiment as bitcoin tests k

Markets in this article

Binance Coin / USD
239.62 USD
-6.19 -2.580%
Binance Coin / USD
239.62 USD
-6.19 -2.580%
Bitcoin / USD
42278.50 USD
-1586.65 -3.620%
Ethereum / USD
2246.16 USD
-117.29 -4.970%
Litecoin / USD
73.52 USD
-4.06 -5.260%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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