Mutants such as delta strains have been rampant until now, but in the case of omicron strains, it was detected in developed countries of Europe. In less than a week, a second case has already been discovered, indicating the strength of infectious power. Trends from the previous year on Ethereum Code. temporarily fell to the $55,000 range due to alarm over the covid-19 and omicron variant.
In addition to the U.S President’s remarks and the accurate reports on the infectivity, the sense of vigilance gradually receded due to the announcement of measures in each country. Information on new vaccines, and now it has picked up to half of the price before the plunge. In addition, although the facts have not been confirmed, it has been reported that the infection has been in the room across the corridor. Since the possibility of air infection is also in view, it can be said that the second corona shock warning is in the investor’s head.
Is it a second corona shock on crypto?
Let’s take a technical analysis of whether omicron shares will be a second corona shock from the entire financial markets and indicators, including cryptocurrencies such as bitcoin and Ethereum.
Financial market sentiment reversed to risk-off last year on November 30 when the CEO of U.S. drugmaker Moderna warned that the vaccine would not significantly reduce the effectiveness of the new coronavirus mutant Omicron Strain. Bitcoin (BTC) fell 2.5 percent to below $56,000, and futures linked to the S&P 500 fell 1.2 percent. Yields on U.S. 10-year Treasuries attracted demand as a safe asset, rising from a low of 1.47 percent.
Check Out the Trends
● Bitcoin temporarily fell by 5894.7 USD due to the new coronavirus Omicron variant outbreak. Ethereum reached the burn (incineration) of 1 million ETH by EIP-1559.
● The news that the Twitter CEO will enter the crypto-asset business and the large purchase of additional products by Micro Strategy seems to have provided BTC-specific support.
● During this time, there was a view that institutional investors of North and South America were mainly strong in buying. So investors who were able to buy firmly at the time of the plunge might have been lucky.
● According to Glassnode data, centralized exchanges have received more than 24,950 bitcoins in the past four days, and bitcoins held by the exchange’s address are rising.
● This time, the market is regaining stability, saying that “the impact of the new corona will stop at a minimum,” but if there is such a report, the 100-day moving average may likely be considered in the 50598 USD range. So attention should probably be paid to the press.
● XRP is in a situation where the power to recover continues, and it seems that it is waiting for the continuation of the trial, but there is no vigour, and the flow is still weak. Market trends, on the other hand, other financial markets are paying attention to the early rate hike in the United States.
Bitcoin Falls on omicron stock fears
On November 26, 2021, bitcoin was moving in the second half of 50580 USD but recorded a decline of about 5901 USD in response to concerns caused by “omicron strain,” a mutant strain of the new corona in south Africa. It is the first time in about two years since the corona shock in February-march 2020 that financial markets have moved due to the effects of the new coronavirus, and although the decline has not been regained, prices are stable. You can choose Bitcoin Era for the user-friendly trading experience.
To conclude
With inflation already progressing globally unexpectedly, lockdowns and further stimulus push towards stagflation, leading to low growth and inflation. Bitcoin is perceived as storing value, but it is still vulnerable. Some crypto-asset investors appear to be moving bitcoin to exchanges, fearing prices will continue to fall. Investors typically move their holdings to the exchange to cash in the bitcoins they hold. The rise in exchange holdings is not significant, but it could signify a more significant decline if it continues to rise. Bitcoin fell sharply in May after the exchange’s holdings rose from a one-year downtrend.