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Cryptocurrencies Are Seeing Strong Reactions To The Latest Covid Variant

By Aaron - Crypto Investor - 01-12-2021

Crypto graph

As news about the latest Covid variant grows, the more we see the market for buying crypto-assets get affected. The global markets have been seeing falls on prices across all assets, however, in comparison to the many different types of investments, cryptocurrencies appear to already be restoring some stability. Due to the initial set of lockdowns from the original Covid-19 variant, we have seen exponential growth in interest for cryptocurrencies. The sudden increase in popularity for investing in cryptocurrency is likely due to people researching ways to make money from home. In this case, people have found that buying and selling Bitcoin (BTC) and other alternatives is an easier choice than starting a business or answering several surveys daily.

The World Health Organisation has come out with a statement saying that multiple nations have already reported cases for the new Omicron covid strain. They further explained that the danger of seeing massive spikes is very high. However, there is little information as to how bad this variant will be as scientists will be determining the severity of Omicron over the next few weeks. Despite the news, crypto market investments like Bitcoin have seen price increases. Recently on Monday, BTC was trading at $53,359, an 8% increase from Sunday lows. The rise in value is likely due to the MBA signing its first ever BTC endorsement via Coinbase. Reportedly, Coinbase will utilise all of the NBA’s available platforms to use as advertisement for the crypto giant.

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