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HomeTechnologyThe news of Omicron is causing a bloodbath in the cryptopic market

The news of Omicron is causing a bloodbath in the cryptopic market

The world’s number one digital device, bitcoin, has entered the bear market after falling 20% ​​from a historic high of around $ 69,000 as fears over the new Omicron corona virus variant have panicked the global market.

The price of bitcoin fell below USD 54 000, a decrease of almost 8% per day. The slip to $ 54,321 has pushed it to its lowest level since early October.

Other cryptocurrencies also fell, with the second-highest ether falling more than 10% to $ 4,059 and XPR 9.9% fell below 95 cents. Others, such as dogecoin, fell by 8.3%, while shiba inu fell by almost 5%.

The large fall is attributed to a new, highly mutated version of the coronavirus. The new fleet, named Omicron, was first reported on Wednesday

Growing concerns about the new variant immediately led to severe travel bans around the world, with flights from South Africa and several neighboring states banned by more and more nations

The news also triggered sales of riskier assets, with stock markets worldwide declining earlier this week. Yields on U.S. Treasury bills moved sharply downward, while bond yields moved against prices. European stocks have experienced the worst session in more than a year, while US stock futures have fallen sharply.

Tiny cryptocurrency

tiny cryptocurrency, accidentally named omicron, but soar soaring and rising about 500% in the days since the world named the new version of Covid-19,

The bubble cryptocurrency market, which can mean that even larger and proven coins regularly record sudden double-digit percentage gains and losses, often sees the value of small cryptocurrencies rise explosively to collapse shortly afterwards.

omicron The price of the omic coin has risen in recent days from around $ 50 to nearly $ 400, according to data measured by the CoinGecko cryptocurrency exchange tracking system. Despite the rise, neither CoinGecko nor the Crypto.com bitcoin and cryptocurrencies have enough data on omicron to give it market capitalization

Omicron is based on the scaling technology of ethereum Arbitrum and few

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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