New COVID strain may affect crypto valuation

[sarmrakib]

I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

Its actually seems to happen like 2020 anything  on this year but the time and situation are totally different . We have seen at the beginning of covid-90 when the whole world were surviving but crypto was promising and were started to building . Now we are really on better situationsome of the traders who are really always being panicked just are going to dump the valuable asset. A wise person always being professional and become patient with his asset. It may some trade closed with the stop loss hope we can recover soon and we did actually . Thinking about the future nothing can pull me back mate.

[oHnK]

I wonder why Bitcoin price was affected by the news. If zoom went up according to your post, why not Bitcoin which would be more useful in times of crisis/uncertainty.

Bitcoin get known through information and bitcoin also been affected by information, i found out that any negative information of bitcoin alway affect the price, "why" because so many people who is cryptocurrency minded do not believe in bitcoin with 100% trust, and any information that comes negatively about bitcoin always brings fear to the market.

It's nothing new since bitcoin leads the crypto market, whatever negative news that will attack bitcoin will certainly leave a negative impact too on the whole crypto market. But that does not mean that bitcoin will stay in dump, it may suffer from price dumps but only temporarily. And with this news all about new covid variant, it will be another threat for bitcoin and with the rest of altcoins. But somehow, i know most of us are expecting that crypto won't be affected that much like we used to see in other types of investments. Who knows we might see new ATH for bitcoin just when this new variant comes out in the market.

Economic conditions that cause the market to stagnate are systemic in nature, if Covid causes economic activity to stop massively, this will have an impact on the market, because the money supply for investment will decrease while money for basic consumption needs will increase.  This is theoretical.  But in fact, all countries have prepared a new adaptation which is often called the new normal.  So I'm sure it won't have much of an impact.

[Silberman]

It is very similar to what we saw back then, the markets hate uncertainty and the pandemic has been full of it, the new variant of the virus seems to be one of the most dangerous to date, so the international community is very worried about it as they fear that we may have to go to square one and live once again the days in which the majority of the population of the world was under lockdown, and all of this when the economies of the world have not recovered and the inflation is already very high.

It is very interesting to see why new variants always appear at the end of the year and in a relatively short time these new variants appear everywhere and have even arrived in some countries that are quite far away.
the question is how do they show up fast enough? did they really exist or were they just made to have an impact that is as unexpected as it is today.

I'm getting fed up with stuff like this. Every year I have to hear variants that continue to mutate and create panic everywhere which affects the economy which is getting worse and worse.

I think we are all tired about the situation as we cannot go back to our normal lives as there is always something new to worry about with this pandemic, however whether you believe this is simply coincidental or that this is the elaborated plan of someone, the truth is that this new strain has been affecting the markets and there is little reason to think this is not going to continue, in fact Biden had to appear already on TV to try to calm the markets but I do not know how effective something like this is going to be.

[Oasisman]

It is very interesting to see why new variants always appear at the end of the year and in a relatively short time these new variants appear everywhere and have even arrived in some countries that are quite far away.
the question is how do they show up fast enough? did they really exist or were they just made to have an impact that is as unexpected as it is today.

I'm getting fed up with stuff like this. Every year I have to hear variants that continue to mutate and create panic everywhere which affects the economy which is getting worse and worse.

Interesting notice right there because I too share the same thoughts as you.
The original Covid have successfully destroyed local and national economic status and made some other businesses crazy rich. So, I guess that these people in health field are maximizing the opportunity to milk more money from the panicking people because of all the variants that came out after the first Covid.
It really pushes me to believe such conspiracy theories.

Another thing is that, I don't have any idea how cryptocurrency are being affected by this news.

[tygeade]

It's nothing new since bitcoin leads the crypto market, whatever negative news that will attack bitcoin will certainly leave a negative impact too on the whole crypto market. But that does not mean that bitcoin will stay in dump, it may suffer from price dumps but only temporarily. And with this news all about new covid variant, it will be another threat for bitcoin and with the rest of altcoins. But somehow, i know most of us are expecting that crypto won't be affected that much like we used to see in other types of investments. Who knows we might see new ATH for bitcoin just when this new variant comes out in the market.

That is mainly because money comes into bitcoin more than any other coin and goes out of bitcoin more than any other coin as well. If there is a bull run going on, people will turn their fiat into bitcoin first, then into other coins if they want to, or maybe stay at bitcoin. If there is a bear run going on, people will take their money out of bitcoin into fiat, or stay with stablecoins as well.

So, all in all I would say even though people could turn their fiat into ETH or other coins these days, most of the money goes in and out of bitcoin at first. This results with a lot of volatility in bitcoin that turns out to happen in other coins as well afterwards.

[24Kt]

I wonder why Bitcoin price was affected by the news. If zoom went up according to your post, why not Bitcoin which would be more useful in times of crisis/uncertainty.

Bitcoin get known through information and bitcoin also been affected by information, i found out that any negative information of bitcoin alway affect the price, "why" because so many people who is cryptocurrency minded do not believe in bitcoin with 100% trust, and any information that comes negatively about bitcoin always brings fear to the market.

It's nothing new since bitcoin leads the crypto market, whatever negative news that will attack bitcoin will certainly leave a negative impact too on the whole crypto market. But that does not mean that bitcoin will stay in dump, it may suffer from price dumps but only temporarily. And with this news all about new covid variant, it will be another threat for bitcoin and with the rest of altcoins. But somehow, i know most of us are expecting that crypto won't be affected that much like we used to see in other types of investments. Who knows we might see new ATH for bitcoin just when this new variant comes out in the market.

Economic conditions that cause the market to stagnate are systemic in nature, if Covid causes economic activity to stop massively, this will have an impact on the market, because the money supply for investment will decrease while money for basic consumption needs will increase.  This is theoretical.  But in fact, all countries have prepared a new adaptation which is often called the new normal.  So I'm sure it won't have much of an impact.

Yes, with what we had experienced last year, I don't think people should panic now. And the good thing, scientists are working on it already and I hope they will release official statement regarding this omicron variant. As most of us already know what to do, there's no reason to panic because it will not do any good in our mental health. It may have initial impact in crypto but as we have seen during the pandemic, that's when we got a very good interest from non crypto users to look at crypto market. So I am not really worried about this new wave. It may even have good impact later on.

[beerlover]

I get that some people could be worried about the new variants but why do we have to look at the very short term at all times. This covid situation will be over one day, god bless we are still alive at least the ones who are reading this, we have lost too many people to this and I hope that we do not lose anymore but daily we still get so many deaths.

However, eventually this will end, we are not going to live with covid forever, which means that after that is done, we are going to have a life without covid and no new strains or even strains won't matter. So, we should not look at what crypto could do during covid but should be focusing on the future and how it will be profiting us even after covid is done.

[kawetsriyanto]

~ so eventually this December we might see all of them getting into the positive and bouncing back including crypto market.

Crypto market is struggling to recover, not really recovered yet. I think BTC needs to return above $60k to make all people optimistic again, then the market can recover well. Let's hope that it can happen in December because this month should have a good trend if we consider crypto market history. The last pump of crypto coins is predicted to happen this month.

~ I saw when there was news about the emergence of a new type of Covid, people did not panic too much and it was different from last year ~

This is not the first time they hear that kind of news. So, people don't panic so much, they already experienced it many times. Also, people may already predict that a new wave of pandemics probably happens in December. They already prepared everything to deal with this new wave.

[lumierre]

I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

I follow the strategy of investing exactly at the moment when other people are scared. When there is a drawdown, many people start selling, but long-term investors should be strong and be ready to buy more on a dip if they really believe in what that hold. Bitcoin has already overcome many drawdowns and it has always recovered, also I know that it has already has a value as it is used in many financial operations, so I continue holding.

[ivankoh]

Bitcoin and crypto have proven the opposite of what covid19 can do. Maybe the state of mind worries a lot more people about it than the Delta, but I would estimate it's pure and bitcoin will still get us through the omicron and even the hyperinflation that's happening gradually started. So my guess is bitcoin will go up soon, holding baskets is the way to go.
My prediction is that all subsequent forms will go down and only bitcoin will go up.

[so98nn]

I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.

For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.

The last sentence is way important than anything. Bitcoin has shown brittle nature when it comes to the news which are aint good for economy. This direct and indirect relationship of crypto with the real world is something that is steering the whole investor base. I think there is nothing wrong in that one, we are peeps, we have invested heavily into crypto, we all are here to book the profits and make the lives easier for us and families. So yeah why not, the reaction will be there only the thing is we should not move an inch while setting up our goals and reaching to that level.

Hodling is by default gonna hamper at mass level due to the fear of loosing money. These are hard times, everyone needs money so they will cash out. Those who will stay stubborn on not selling will surely get rewards when prices rebound.

[n0ne]

Bitcoin and crypto have proven the opposite of what covid19 can do. Maybe the state of mind worries a lot more people about it than the Delta, but I would estimate it's pure and bitcoin will still get us through the omicron and even the hyperinflation that's happening gradually started. So my guess is bitcoin will go up soon, holding baskets is the way to go.
My prediction is that all subsequent forms will go down and only bitcoin will go up.

Everytime we can't similar pattern of market progress with bitcoin same as that happened during the previous wave of COVID. Right now everywhere precautionary measures were taken in fast phase and people are prepared to face it. Earlier this was different and people panicked all of the sudden. Those are days that made common people get connected on internet for each and everything. That's also a reason for the pumping of the market.

[raidarksword]

A never ending new variant is pain as we know we are still fighting covid still new variant again appears and this will not surely end for sure. I am still bullish about bitcoin and it will still prevails no matter how many variant coming in because crypto adoption is hard to stop.

[Wawa2013]

A never ending new variant is pain as we know we are still fighting covid still new variant again appears and this will not surely end for sure. I am still bullish about bitcoin and it will still prevails no matter how many variant coming in because crypto adoption is hard to stop.

As much as any new variant that appears will not affect the development of cryptocurrency, it can be seen in the pandemic situation that has not
ended until now, the price of Bitcoin can still shoot very high this year. This means that Bitcoin cannot be stopped, the adoption process will
continue, although new variants will never end. So there's no need to worry about the emergence of new variants, because that doesn't stop people
from buying Bitcoin. Instead of worrying about new variants that keep popping up, it's better to focus on investing in Bitcoin. Because the price of
Bitcoin will continue to rise, even predicted to reach new ATH at the end of this year. We all should never doubt Bitcoin in a situation like now,
where Bitcoin can still be relied on as a fairly good source of income even though a new COVID strain appears.

[jaberwock]

I follow the strategy of investing exactly at the moment when other people are scared. When there is a drawdown, many people start selling, but long-term investors should be strong and be ready to buy more on a dip if they really believe in what that hold. Bitcoin has already overcome many drawdowns and it has always recovered, also I know that it has already has a value as it is used in many financial operations, so I continue holding.

How exactly or what makes you think that people are scared at the moment? You know that there wouldn’t be a way that you would be able to tell exactly that people are afraid to invest in the market and that they’re selling, just that there is a little breakdown in the price doesn’t mean that everybody is already running helter skelter and trying to leave the market.

So you still have to be careful, because the drop in price might just be a little drop that will still go back up again and reach a higher price than the one it was at post the drop. Unless when you would say that people are afraid in the market is when there is a heavy drop in the price, take for example when the market first reached $63,000 which was the first of all time high price this year, it then dropped to around $30,000, that’s when you can say that people are afraid and you can use that opportunity to invest. I did invest then at around that $35,000, and I have benefited from it quite a lot.

[Mauser]

I agree, it's too early to panic. We don't have a log of information yet. Panic selling could leave us hanging if the prices rise again. Better go just wait and see how bad is it really going to get. I remember last year when the news about the Delta and the Lambda variant came out. People were freaking out that the vaccines didn't work anymore, but in the end it wasn't true and the vaccines still seem to work. Reacting to the first news without having any scientific proof is not good. I will sit this one out and not sell.

[andriarto]

I agree, it's too early to panic. We don't have a log of information yet. Panic selling could leave us hanging if the prices rise again. Better go just wait and see how bad is it really going to get. I remember last year when the news about the Delta and the Lambda variant came out. People were freaking out that the vaccines didn't work anymore, but in the end it wasn't true and the vaccines still seem to work. Reacting to the first news without having any scientific proof is not good. I will sit this one out and not sell.

I think that if we think long term then panic selling will not happen, especially because of the virus issue that continues to grow. even though if I'm honest sometimes we are tired of the news about this virus. therefore I don't think there is a permanent effect, so this requires attitude and reflection from within us

[FloridaKid]

Today three cases of the new Covid have been detected in my country I believe this is just the beginning cos it looks like we are going into another lockdown very soon in 2022, crypto will crash again cos many will take profits to get set for the lockdown, the only projects that will benefit from this are Play2earn games which will come in handy once lockdown is in action

[Botnake]

I agree, it's too early to panic. We don't have a log of information yet. Panic selling could leave us hanging if the prices rise again. Better go just wait and see how bad is it really going to get. I remember last year when the news about the Delta and the Lambda variant came out. People were freaking out that the vaccines didn't work anymore, but in the end it wasn't true and the vaccines still seem to work. Reacting to the first news without having any scientific proof is not good. I will sit this one out and not sell.

I think that if we think long term then panic selling will not happen, especially because of the virus issue that continues to grow. even though if I'm honest sometimes we are tired of the news about this virus. therefore I don't think there is a permanent effect, so this requires attitude and reflection from within us

Whatever negative effects on the market this Omicron variant will bring, it's all for temporary. Because we all know that crypto will always recover from all dumps because the demand never stops despite of the economic struggles of lot of countries. This time, i think people are now more aware on the newly covid variant as majority of the people nowadays are more protected because majority have been fully vaccinated already. So there is no way crypto will be greatly affected with this negative news, it might increase the demand for crypto users once lockdowns will happen again.

[BITCOIN4X]

Whatever negative effects on the market this Omicron variant will bring, it's all for temporary. Because we all know that crypto will always recover from all dumps because the demand never stops despite of the economic struggles of lot of countries. This time, i think people are now more aware on the newly covid variant as majority of the people nowadays are more protected because majority have been fully vaccinated already. So there is no way crypto will be greatly affected with this negative news, it might increase the demand for crypto users once lockdowns will happen again.

At least we can learn from the past how the price of bitcoin was shaken after Covid 19 but rebounded again until ATH occurred. Maybe a repeat can still happen this time, but I agree that this ATH was triggered not only because of Covid but also because of the Halving.

If you are hesitating to stay then back off as this is the best option to secure your money. We can't say for sure if ATH $70K-$100K is achievable this year or not. Speculation continues and of course we need to determine it from now on.