CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English
Country • Select Country
    Entity • The products and services listed on this website are not available to US residents.
    English العَرَبِيَّة Deutsch ελληνικά Español Français Italiano Magyar Nederlands Polski Română Русский 简体中文 繁體中文

    Crypto news: BTC heading to second worst month in 10 years

    By Daniela Ešnerová


    Updated

    Coin with Bitcoin (BTC) logo on a red background.
    Bitcoin (BTC) is set to end its successful year on a low note – Photo: Shutterstock

    After setting record highs in November, the two largest cryptocurrencies – bitcoin (BTC) and ether (ETH) – are poised to end the year with one of the worst monthly drops on record.

    Bitcoin is currently trading some 18% below its November close of $57,005 and 31% below its record $68,789, registered on 10 November 2021. Ether peaked at $4,891.70 on 16 November.

    On 4 December, bitcoin crashed on news of the then-newly discovered coronavirus variant, Omicron. Prices ranged from $53,904.68 to $42,874.62 on the day. The cryptocurrency rebounded quickly to trade between $47,000 and $50,000 for the following eight days.

    During the next nine days, bitcoin traded below $50,000. On 23 December, bitcoin broke through and reached $51,000 – an area where it stayed for five additional days before falling below $50,000 again.

    In May, bitcoin experienced a monthly plunge of 37% after China, until then a country with the biggest concentration of cryptominers, outlawed mining of digital currencies. This was the worst monthly slump since September 2011, Reuters reported.

    ETH/USD

    3,058.11 Price
    -0.360% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 21:00 (UTC)
    Spread 6.00

    BCH/USD

    476.95 Price
    -1.790% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 2.50

    XRP/USD

    0.51 Price
    +0.860% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.01168

    DOGE/USD

    0.16 Price
    +2.930% 1D Chg, %
    Long position overnight fee -0.0753%
    Short position overnight fee 0.0069%
    Overnight fee time 21:00 (UTC)
    Spread 0.0012872

    The second biggest cryptocurrency, ether, is trading some 20.5% below its November close and 24.7% below its record achieved in November.

    What is your sentiment on BTC/USD?

    63920.75
    Bullish
    or
    Bearish
    Vote to see Traders sentiment!

    Other crypto news:

    • Iran banned cryptocurrency mining for a second time this year to loosen pressure on national power grids and avoid blackouts. In May, the nation outlawed cryptocurrency mining for four months to avoid energy shortages.

    Chart of the day: Bitcoin's (BTC) is poised for the second worst monthly drop since May

    Chart representing bitcoin's (BTC's) monthly drop in May and December.Bitcoin (BTC) is poised for a second worst monthly drop of the year since May. – Credit: TradingView

    Quote of the day:

    Anthony Pompliano, investor and author of Pomp newsletter, wrote in a piece on inflation:

    “The popular saying of 'money is the root of all evil' can be slightly changed to be more accurate — 'fiat money is the root of all problems.' Fix the money, fix the world. Billions of people around the world stand to benefit from a global store of value that can’t be debased or devalued by any one person, group, or government. We are well on our way to that solution. It can’t come fast enough for those living under high inflation though.“

    Round-up of coins by market capitalisation

    As of 10:00 GMT:

    Winners and losers

    • Fantom (FTM) and monero (XMR) added 17.56% and 11.29% in the last week of trading 
    • Avalanche (AVAX), ripple (XRP) were down 14% and 15.15% respectively over the last week. 

    Read more: Crypto news: Most altcoins ‘crushed' bitcoin (BTC) in 2021

     

    Markets in this article

    AVAX/USD
    Avalanche / USD
    35.2884 USD
    0.0703 +0.200%
    AVAX/USD
    Avalanche / USD
    35.2884 USD
    0.0703 +0.200%
    BNB/USD
    Binance Coin / USD
    563.51 USD
    6.88 +1.250%
    BNB/USD
    Binance Coin / USD
    563.51 USD
    6.88 +1.250%
    BTC/USD
    Bitcoin / USD
    63920.75 USD
    418.4 +0.660%

    Related topics

    #Ethereum #Cryptocurrency #Bitcoin

    Rate this article

    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.
    Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

    Still looking for a broker you can trust?

    Join the 610,000+ traders worldwide that chose to trade with Capital.com

    1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading