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Crypto news: Positive sentiment as bitcoin (BTC) tests $50K

By Daniela Ešnerová

10:44, 22 December 2021

A pile of golden bitcoins rest on a computer circuit
Is a change coming the price of BTC? – Photo: Shutterstock

Bitcoin (BTC) has passed the $49,000 after trading below the $50,000 level for most of December.

The crypto king has been in retreat since the crash on 4 December. Analysis of sentiment among retail investors suggests that while the initial crash was seen as a buying opportunity, this attitude lessened during the weeks crypto markets were in the red. 

According to analysis by cryptocurrency research firm Santiment, immediately after the the plunge “the amount of ‘buy the dip’ mentions on crypto social media soared, but have largely disappeared over the past ten days”. 

Does positive reaction indicate a change?

But this changed on 21 December after the cryptocurrency started picking up. “Bitcoin’s social metrics remain slightly bearish, though they are starting to react positively to the price momentum,” added Santiment. “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.”

Santiment also analysed BTC addresses, which showed a lack of strong accumulation into the current range home to cryptocurrency whales. 

“In the past seven days, the combined balance of 100-10,000 BTC addresses has declined by 10,000 BTC, continuing its see-saw pattern for another week,” added Santiment.

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0.13 Price
+9.960% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872


0.54 Price
+1.080% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168


399.95 Price
+7.220% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.50


3,494.86 Price
+8.700% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

Other crypto news 

  • El Salvador bought 21 bitcoins to mark the 21st day of 21st year of 21st century, tweeted the country’s president Nayib Bukele.

Quote of the day 

In a cheeky tweet, Barry Silbert, founder and chief executive of of Digital Currency Group (a conglomerate of five cryptocurrency-focused companies), poked fun at former Twitter CEO Jack Dorsey. 

“You don’t own ‘Web3’,” said Dorsey in a tweet yesterday. “The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralised entity with a different label. Know what you’re getting into.”

In response, Silbert said: 

“Making a bunch of web4 investments. Ask me anything.”

Round-up of coins by market capitalisation

As of 10:00 GMT:

Winners and losers

  • Weekly gains of terra (LUNA) and avalanche (AVAX) of 60.26% and 33.82% trumped over those of the rest of the top 10 coins
  • Elrond (EGLD) and gala (GALA) lost 11.82% and 9.71% over the last seven days

Markets in this article

Avalanche / USD
28.0603 USD
1.8881 +7.320%
Avalanche / USD
28.0603 USD
1.8881 +7.320%
Binance Coin / USD
591.32 USD
44.83 +8.330%
Binance Coin / USD
591.32 USD
44.83 +8.330%
Bitcoin / USD
64729.35 USD
4460.65 +7.420%

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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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