CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
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    Crypto news: Latest crash wipes near $1trn from markets

    By Daniela Ešnerová

    13:00, 6 December 2021

    Bitcoin logo on gold coin and chart showing market movements
    Cryptocurrencies saw volatility during weekend trading after bitcoin (BTC) crashed on Saturday – Photo: Shutterstock

    Cryptocurrencies have lost almost $1trn (£750bn) of value in the latest crash. Total market capitalisation of all virtual currencies fell to $2.06trn on Saturday morning, down from $2.95trn on 10 November, data from TradingView shows.

    On Monday, bitcoin (BTC) continued to trade below $50,000 after a weekend crash sent the coin as low as $42,874, according to CoinMarketCap.com counts.

    “The $50,000 (£37,713) support area is now in play after a dramatic sell off and test of the $42,000 support, all in a matter of hours,” wrote cryptocurrency trader Marc Principato, commenting on the weekend’s volatility. Principato argues that the cryptocurrency king will be in very broad consolidation, trading between $30,000 to $60,000 for a number of months, rather than rallying to $100,000 before the year’s end.

    What is your sentiment on ADA/USD?

    0.87464
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    ETH/USD

    3,356.23 Price
    -3.760% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 1.75

    XRP/USD

    2.18 Price
    -5.710% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01089

    DOGE/USD

    0.32 Price
    -5.130% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.0015821

    BTC/USD

    96,057.45 Price
    -3.150% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 50.00

    Other crypto news:

    • One of the world’s biggest cryptocurrency exchanges, Binance, looks to relaunch in the UK, The Telegraph reports. Binance CEO Changpeng Zhao told the newspaper that the firm is planning to become a registered crypto asset firm in the UK in the following 18 months. This comes after the UK’s financial regulator, the Financial Conduct Authority, banned Binance from undertaking any regulated activity in the country this June.

    Quote of the day: 

    Author of ‘Into the Cryptoverse’ newsletter, Benjamin Cowen, wrote on Twitter after bitcoin was looking for grounds, following the weekend of dramatic trading.

    “Over the long haul, bitcoin volatility is diminishing. Eventually it’ll behave much more like the stock market. Funny enough, over the last year, the stock market started behaving more like bitcoin.”

    Round-up of coins by market capitalisation

    As of 11:30 UTC:

    • Bitcoin (BTC) was down 3.79% over the last 24 hours and trading $47,500.32
    • Ether (ETH) sunk 5.75% to $3,970.02
    • Binance coin (BNB) dropped 5.51% to $543.54

    Winners and losers:

    • Terra (LUNA) broke into the top 10 biggest cryptocurrencies by market capitalisation after adding 35.23% in a week
    • Ripple (XRP) lost a whopping 27.10% in the last seven days of trading, making it the biggest weekly drop amongst the top 10

    Related topics

    #Ethereum #Cardano #Cryptocurrency #Bitcoin

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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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