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Bitcoin is hit by a new strain of COVID-19
Bitcoin Weakens Sharply On Friday, Reacting Somewhat Belatedly To Falls In Equity Markets
Nov 26, 2021
1 min read
Anna BakkerNews analyzer

The first cryptocurrency broke through November lows of about $ 55.3K, updating lows in a month and a half.

By mid-Friday, bitcoin is losing more than 7%, leading altcoins by 10%. The first cryptocurrency has leveled off all the growth of recent days.

Stocks, oil and other risky assets fell sharply on Friday after the WHO called an emergency meeting over the South African strain of COVID-19.

On November 24, British scientists announced a new strain of coronavirus B.1.1.529, first identified in South Africa and Botswana. The new strain has the potential to be more dangerous than the delta strain, as it has a greater number of mutations.

Presumably, the new mutation B.1.1.529 is spreading faster than the previous ones. It is also more contagious and arguably less sensitive to existing vaccines.

British professor Tim Peacock, who has studied the new strain, said B.1.1.529 has 32 mutations in the protein compounds of the coronavirus spike. According to him, this gives the new variant of the coronavirus the ability to more easily penetrate human cells.

Markets await a new global wave of infections if vaccines prove to be ineffective. Hope for an economic recovery could be undermined. The new strain has emerged amid already growing concerns about COVID-19 outbreaks.

“Given the increased volatility of the stock market, crypto investors need to be on the lookout. Because of the love for institutions, bitcoin is significantly vulnerable in moments of exiting risky assets, when everything is sold out, regardless of the prospects, ”the team of analysts at GravityPlus notes.

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