Cryptocurrencies Tumble As Coronavirus Variant Shakes Markets

Nov 27, 2021

Cryptocurrencies Tumble As Coronavirus Variant Shakes Markets

After the discovery of a new, potentially vaccine-resistant coronavirus type, investors dumped riskier assets for the perceived safety of bonds, the yen, and the dollar, Bitcoin fell almost 9% on Friday, bringing smaller tokens down with it.

Bitcoin, the most popular digital currency, dropped as much as 9.2% to $53,551, its lowest level since October 10. As investors abandoned cryptocurrencies, the second largest cryptocurrency Ether, plummeted almost 13% to its lowest level in over a month.

Bitcoin was on track for its worst one-day decline since Sept. 20, despite its 13-year history of high volatility. Since hitting a record high of about $70,000 earlier this month, it has dropped by more than a fifth.

The coronavirus type found in South Africa, Botswana, and Hong Kong has an odd mix of mutations, according to scientists, which might allow it to elude immune responses or make it more transmissible.

"The expansion of (the variation), particularly to other nations, may further dampen investor enthusiasm," said Yuya Hasegawa of Tokyo-based exchange Bitbank. "Bitcoin's upside is likely to be limited, and the market should expect more losses."

Bitcoin touched an all-time high of $69,000 earlier this month as more institutional investors flocked to cryptocurrencies, many attracted by its ostensibly inflation-resistant properties.

Others have flocked to the digital currency in the hopes of making rapid money, a lure heightened by historically low or negative interest rates. However, bitcoin's volatility has persisted, raising concerns about the currency's fitness as a secure store of value.

At the time of writing, Ether was trading at $3,924. It's down about 20% from its all-time high set on Nov. 10.

Subscribe Our Newsletter

JPMorgan Says This Cryptocurrency is a Better Buy Than Bitcoin As Interest Rates Rise — Here Are 3 Easy Ways to Invest
JPMorgan Says This Cryptocurrency is a Better Buy Than Bitcoin As Interest Rates Rise — Here Are 3 Easy Ways to Invest

As Bitcoin has dominated the news, America's largest bank believes Ethereum, the world's second-most valued cryptocurrency, is a better option as interest rates rise.

Crypto
MicroStrategy Bitcoin Holdings Swell to $11 Billion

Nato

MicroStrategy Bitcoin Holdings Reach $11 Billion with Latest Purchase

MicroStrategy Bitcoin holdings have zoomed to $11 billion with the recent purchase of an additional 3,000 bitcoins. Explore MicroStrategy's stock forecast 2025.

Crypto
Get the ultimate solution: B2BinPay Get the ultimate solution: B2BinPay
Sponsored
Tamta

Best Technical Analysis Indicators
Throughout history, people have always looked for ways to make money, and trading has become a popular choice today. But successful trading isn't about luck or guesswork - it requires careful analysis to make the right decisions.

discover
5 Essential Steps to Starting Your Own Forex Brokerage

Oliver

5 Essential Steps to Starting Your Own Forex Brokerage

An excellent way to get into online trading is to launch a forex broker. But, like with any company, there are a few things to think about before jumping in. This article will show you how to become an FX broker and discuss in detail five essential steps to starting your own forex business.

Forex Business
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Alexander

    What Is an Interest Coverage Ratio? How to Use This Financial Metric to Evaluate Company Health

    Interest Coverage Ratio Explained

    Hazem

    After-Hours Trading: Can You Trade After Financial Markets Close?

    After-Hours Trading Explained

    Alexander

    How to Scale a Crypto Exchange Business and Stay Competitive

    how to scale crypto exchange business

    Constantine

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Crypto CrypticStreet Review: The Future of DeFi and Secure Crypto Trading

    Alexander

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Bitcoin Power Law Explained: How It Shapes BTC’s Long-Term Growth

    Hazem

    Megaphone Pattern​: What Is It? How to Use It In Trading

    Megaphone Pattern​: How to Read & Trade with It

    Constantine

    Top 5 Liquidity Bridge Providers in DeFi

    Top 5 Liquidity Bridge Providers in DeFi

    Hazem

    Max Funded IUL Explained: Is It a Legitimate Financial Strategy?

    Understanding Max Funded IUL

    Alexander

    Tax Refund Timeline: When Will You Get Your Tax Return?

    how long does it take for tax refund

    Constantine

    Crypto Liquidity — What is it, and How to Measure It?

    What is Crypto Liquidity and How to Measure It?

    Constantine

    AI in Finance: A Game-Changing Trend Shaping the Industry

    AI in Finance

    Hazem

    5 Ways to Make Money with ChatGPT and Build Your Wealth

    Make Money with ChatGPT

    Constantine

    Top AI Companies to Invest in April 2025

    Top AI Companies to Invest in March 2025

    DeepSeek vs ChatGPT: Which AI Technology is Better For You?

    DeepSeek vs ChatGPT: Feature-by-Feature AI Tool Comparison

    Constantine

    Top Solana Meme Coins in 2025: Best Presales and Where to Buy

    Solana Meme Coins 2025

    Alexander

    How Renewable Energy Stocks Can Supercharge Your Portfolio

    How Renewable Energy Stocks Supercharge Your Portfolio

    SEC Crypto Regulations: What Financial Advisors Need to Know

    SEC Crypto Regulations: Insights for Financial Advisors

    Hazem

    The Cup and Handle Pattern – How Trade Using This Bullish Indicator?

    Cup and Handle Pattern – How to Predict Price Breakouts?

    Hazem

    Year-Over-Year (YoY): What It Means? How It’s Used in Finance?

    Year-Over-Year (YoY): How to Calculate Business Performance?

    Constantine

    What is WAGMI and NGMI? Understanding Crypto Slangs

    WAGMI vs. NGMI

    Alexander

    Litecoin Mining Guide: How to Get Started in 2025?

    Litecoin Mining Guide: How to Get Started in 2025?

    Constantine

    What is Thruster (THRUST): An Advanced AMM for the Blast Ecosystem

    Thruster (THRUST): How Does it Revolutionise DeFi?

    Constantine

    How Does Polymarket Work? Detailed Guide

    How Does Polymarket Work? Comprehensive Guide

    Constantine

    Coinbase vs. Сoinbase Pro: Which Platform is Right for You?

    Coinbase vs. Coinbase Pro
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.