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Due To The Influence Of The New Mutant Strain Omicron, The Price Of Bitcoin Fluctuated By 20% Over The Weekend

Bitcoin price fluctuates sharply again. According to CoinDesk data, Bitcoin plummeted by more than 20% on December 4th, Hong Kong time, and once dropped to US$42,019. The reason was judged and the new mutant strain Omicron triggered a wave of stock market selling and the Federal Reserve. (Fed) Frankly said that inflation is not a temporary phenomenon. CNBC, The Wall Street Journal, and other foreign media reported that Noelle Acheson, an analyst at the cryptocurrency lending platform Genesis Global Trading, believes that another factor that exacerbates the decline of Bitcoin is that the leverage provided by cryptocurrency derivatives is extremely high, making investors face There is a big risk. When the price of Bitcoin fluctuates and falls, it is easy to be forced out of the market. On November 26, the World Health Organization (WHO) listed the Omicron virus as a "Variants of Concern" (Variants of Concern, VOC). On that day, Bitcoin fell to about $54,000, reaching a 7-week low and officially fell into the "Variants of Concern". A "recession" bear market is defined as a decline of more than 20% from recent highs. CoinDesk's quotation shows that as of 9:16 a.m. Hong Kong time on December 6, the price of Bitcoin fell at US$48,953.77, which has fallen by about 30% from the historical high of US$68,990.90 reached in mid-November.

Source: Tradingeconomics.com 

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