Crypto Omicron Is The Main Reason Why Cryptocurrency Market Crashed Today

Good-Guy

VIP Contributor
Bitcoin and some other cryptocurrencies were doing fine for some time, but today something really bad happened. The price of bitcoin dropped by more than 15 percent and the price of Ethereum also dropped by more than 15 percent today. Many other cryptocurrencies also got affected and the price of almost all major currencies fluctuated. many cryptocurrency experts have stated that the fear of spread of Omicron variant is one of the main reasons why the global stock market crashed today and Omicron variant is the main reason why coins also fluctuated in value. Bitcoin lost more than $10,000 in value in a single day. This might be signaling a warning and I think I already speculated that the Omicron might have some effect on the cryptocurrency market, as I discussed this issue in one of my posts. The year 2022 could be worst for cryptocurrency investors in case the variant spreads and causes another pandemic. This could also have a major effect on short-term traders as well because market fluctuations usually affect all people involved in the business and cryptocurrency markets are certainly no exception to this rule.
 

Victorial

Valued Contributor
The value of bitcoin has reduced drastically and I could not find any reasonable explanation. If a new variant has been found, then the crypto world is in immense danger. The investors are still trying to control the market by buying more coins. I still believe it will rise soon but the prediction is over. Nothing more can be done to achieve that
 
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Good-Guy

Good-Guy

VIP Contributor
The value of bitcoin has reduced drastically and I could not find any reasonable explanation. If a new variant has been found, then the crypto world is in immense danger. The investors are still trying to control the market by buying more coins. I still believe it will rise soon but the prediction is over. Nothing more can be done to achieve that

I am not aware of the reason for why this specific kind of variant is affecting the prices of cryptocurrencies in a such negative way. last the year the forerunner version of this virus caused the stock market to collapse, but it never had any such kind of effect on the cryptocurrency market. In fact, the year 2020 was actually pretty good for the cryptocurrency market and the prices skyrocketed at that time. There must be some reason behind the massive fluctuations caused by the Omicron.
 
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