Bitcoin drops more than 7% amid investor fears with Covid-19

Get real time updates directly on you device, subscribe now.

O bitcoin, the most traded cryptocurrency in the world, suffered a fall of more than 7% this Friday morning (26). The move reflects widespread pessimism in the markets, amid new restrictions on movement in Europe and news of a New variant of coronavirus detected in South Africa.

At around 9:35 am, bitcoin retreated 7.13% compared to the previous day, quoted at US$ 54,300, far from the record of US$ 69 thousand registered in November. The market situation also affects others. cryptocurrencies. O ethereum, second most traded, fell 8.83% to $4.041.

Rafael Izidoro, president of the Rispar digital platform, says that “this new drop may be related to the news of a new variant of the coronavirus, which is generating a generalized market panic.”

CleanSpark’s senior vice president of data center operations, Bernardo Schucman, also points to the new variant as a cause for the backlash, and says the move “is also related to the fear of traditional investors at times like these bitcoin crashes” .

The month of November was already being difficult for bitcoin. The cryptocurrency dropped below $60,000 for the first time in nearly a month due mainly to a profit-taking movement, in which investors sell the assets to profit from the difference in relation to the purchase price.

It also negatively affected the cryptocurrency as new criticism from China, which promised to continue its fight against assets. The scenario of high inflation in the United States, with the possibility of an increase in interest rates earlier and acceleration of the end of economic stimulus, was another factor that weighed heavily.

At its current price, bitcoin is back to early October levels, before it was boosted by the debut of first ETF linked to cryptocurrency in the United States.

Reference: CNN Brasil

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

buy kamagra buy kamagra online $255 payday loans online same day no denial payday loans direct lenders only