New COVID Variant FUD Drives Bitcoin Down To $54k

The news of the latest COVID variant is invoking a fresh wave of FUD among investors, with Bitcoin crashing down to $54k, and markets across the board slipping into the red. Bitcoin Plunges To $54k As News Of COVID Variant Emerges Financial markets are moving into the red on Friday as news of a new COVID variant makes investors around the world worried. According to a BBC report, this new variant was discovered in South Africa, and scientists have found it to be the most heavily mutated version so far. Not much is clear about the variant’s properties yet, but what looks to be most worrying so far is that this version of COVID may be vaccine resistant due to the large number of mutations. The Director of the Centre for Epidemic Response and Innovation in South Africa, Prof. Tulio de Oliveira, said “This variant did surprise us, it has a big jump on evolution [and] many more mutations that we expected.” If it indeed turns out to have strong immunity to the vaccine, then vaccination efforts so far may become ineffective, and nations around the world may look at enforcing new lockdowns. Because of these fresh COVID concerns, investors have started to de-risk their holdings. This sell off has taken Bitcoin down to $54k. Related Reading | Bitcoin Thanksgiving Day Data Reveals Peak Possible Within 30 Days Here is a chart that shows the trend in the price of BTC over the past day: BTC's price plummets down &#124...