New COVID strain may affect crypto valuation

[Hydrogen]

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

I think this was the cause of the crash:

Didi shares sink on a report that Chinese regulators have asked it to delist from U.S.

GUANGZHOU, China — Shares of China’s Didi sank sharply on Friday after Bloomberg reported that Chinese regulators have asked the firm’s executives to formulate a plan to delist from the U.S.

Didi shares closed down 2.59% in the U.S. amid a wider sell-off. SoftBank shares in Japan closed down by 5%. SoftBank’s Vision Fund owned more than 20% of Didi following its U.S. listing.

Bloomberg’s report said regulators want Chinese ride-hailing giant Didi to delist from the New York Stock Exchange because of concerns about leakage of sensitive data. The news agency cited people familiar with the matter who asked not to be identified due to the sensitivity of the matter.

https://www.cnbc.com/2021/11/26/chinas-didi-asked-to-delist-from-us-softbank-shares-fall-report.html

There is concern of other chinese conglomerates like Didi choosing to delist from the US in the future.

With the motive being perhaps to insulate china's economy from US inflation and a potential future crash.

I can't claim to be an expert on Didi or what china's motives are for this move. Its a topic well worth investigating IMO for anyone interested in the topic.

There were at least 8 different COVID strains in 2020. Announcement of the delta variant did little to move markets. A new emerging variant suddenly has the power to shake markets?

I hope people look at the Didi delisting as a probable cause behind recent negative market trends. It could well be a better explanation than the omicron variant of which has yet to reveal its full impact.

[Ucy]

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.
Feels like an attack on the price coupled with some panic.
People should be aware that promoting Bitcoin correctly also attracts lots of investors and keep others. If you don't, other side could succeed in their war against the price... They are more sophisticated today than before.

[geegaw]

Yes, it is true, Bitcoin has started to come back again. This decline is a new test for Bitcoin. Bitcoin has withstood the strong effects of the Covid virus and today is still resilient in the face of the new virus. These are very strong tests of Bitcoin that have proven that it is much stronger than everyone thinks, so I think that we will witness a new strong bullish wave for Bitcoin, especially since there is news that Microstrategy bought 7000 Bitcoin today with an average price of 59,187$. This news is sure to have a very strong impact on the market and we will witness a new high soon.

Covid has nothing to do with Bitcoin it has proven already in the last couple of months even if the government already told us that there's a new strain of virus coming but that doesn't stop us or Bitcoin to continue to grow. The sudden drop result isn't because of the new strain of virus or something it's just that Bitcoin needed it in order to sustain a long term stable growth. That's why it has to test some support level but that doesn't mean we already meet the bottom, there are still more room for Bitcoin to grow. And next month might be worthy as what the other think would be.

A lot of unrelatedness in the development of bitcoin but most of these factors are tied together by a magic string, more precisely, although Covid and its developments are not really related, economic actors and analysts have always believed that the mutation of Covid exposes the world to other dangers, finance has also since made changes to match this risk, these effects also propagate to investment sectors. In general, such cases always appear to confuse investors more, more confusion will have more false grounds for the wiser to exploit

[Dragonfund]

I dont accept that COVID strain situation would affect crypto valuation. Just check back, we had consecutive ATH of BITCOIN during only Pandemic situation  and yes still we are marching forward for its next ATH. There seems to be a usual correction which happens before a great spike and yes this is what I believe  and I have seen since 2016. We could see large number of investors have come in to Crypto platform during the COVID period.

It will be something of shame if we really fall for the same excuses we have had. After the first covid 19 commotion, we have received several news of second wave which are many timed forgotten as soon as people hear them and I'm very sure that even this one will be gone too.
What's the essence of making people panic with a virus spread that the same United nations has claimed they provided vaccines for the globe. Different diseases has spread in the past and we all survive the situations.

[wxa7115]

Yes, it is true, Bitcoin has started to come back again. This decline is a new test for Bitcoin. Bitcoin has withstood the strong effects of the Covid virus and today is still resilient in the face of the new virus. These are very strong tests of Bitcoin that have proven that it is much stronger than everyone thinks, so I think that we will witness a new strong bullish wave for Bitcoin, especially since there is news that Microstrategy bought 7000 Bitcoin today with an average price of 59,187$. This news is sure to have a very strong impact on the market and we will witness a new high soon.

Covid has nothing to do with Bitcoin it has proven already in the last couple of months even if the government already told us that there's a new strain of virus coming but that doesn't stop us or Bitcoin to continue to grow. The sudden drop result isn't because of the new strain of virus or something it's just that Bitcoin needed it in order to sustain a long term stable growth. That's why it has to test some support level but that doesn't mean we already meet the bottom, there are still more room for Bitcoin to grow. And next month might be worthy as what the other think would be.

The crash of March of 2020 tells us otherwise, the truth is that everything can affect bitcoin, the market of bitcoin is composed by people and if people panic over something, even if that something does not make sense, it could still crash, now things are different than what they were back then as now we have stronger hands so the possibility of a crash over a news like that has diminished but it has not disappeared.

And it is never going to disappear completely, just look at all the times China ‘banned’ bitcoin and the reactions the market had, and even if now China has in fact banned bitcoin it would not surprise me to see it as some sort of news on 2022 and see a small correction as newbies get scared about it, even if it does not make sense for us that such thing is happening at all.

[trickys]

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.

Good analysis and prediction... now, we all can see that you were spot-on.

[2double0]

Covid did hit the crypto industry but not that bad and when things were so serious, crypto fell down and took some rest, again brought up by institutionalists. Today, the situation is limited to some countries due to enough awareness available but I would ask those stupid people who don't wear masks and get out, please stop doing that because you are not just risking your own life but others' too, stay home and pay with crypto.

[carlfebz2]

Covid did hit the crypto industry but not that bad and when things were so serious, crypto fell down and took some rest, again brought up by institutionalists. Today, the situation is limited to some countries due to enough awareness available but I would ask those stupid people who don't wear masks and get out, please stop doing that because you are not just risking your own life but others' too, stay home and pay with crypto.

We dont even able to point out precisely that it was the main reason because the market could dip or drop like that without any events happening around

basing in real experience or situation in the market and we know that this market could move out without any relevant reasons thats why its really hard

to tell whether it could mainly affect for this new strand or variant of covid or not yet not all news would really be that relevant.

[SirLancelot]

Well, is normal. You know, whenever there is a news like this and something happens, people are usually afraid and you would see it’s reflected in the market. It’s the usual thing that happens when there is an unfavorable event that takes place, but as time goes on the market will still recover. Although I don’t think this event in particular is really affecting the cryptocurrency market, or Bitcoin to be specific. This is not the first time that Bitcoin has gone below $60,000, almost dropping to $50,000. This happened before and they market was still able to get back to above $60,000 and even reached a new all time high price.

So, this is just the same thing happening again and I believe with time the market will be back to a higher price again. Yesterday we are at around $56,000, and now we are already at $57,000 and the market is still moving.

[n0ne]

The global economy will suffer a modest blow from economists point. Compared to the impact on the economy from covid-19 and the delta variant what we experience at the moment won't be that big. This time tourism and the restaurant industry is predicted to experience a major blow. The increased vaccination rate keep things in control compared to the past.

[Finestream]

The global economy will suffer a modest blow from economists point. Compared to the impact on the economy from covid-19 and the delta variant what we experience at the moment won't be that big. This time tourism and the restaurant industry is predicted to experience a major blow. The increased vaccination rate keep things in control compared to the past.

This new strain of covid is expecting to create a major outbreak since the virus will be widespread again, so expect that more economies will totally be in downtrend like we experienced from covid 19 in its first months. However, if crypto will be affected again but i think it will not resort into making a huge dump in the market since people will be more stuck in their houses again and this time, crypto might be their best option again. So instead of making the whole crypto market down, this new strain of covid might cause another positive surge not just for bitcoin but the whole crypto market itself.

[kawetsriyanto]

If it will have the same scenario in 2020, the current dump may not last a long time. It is just a temporary impact because people are panicking about the possibility of a new wave of Covid. But we all know that Covid even makes crypto market grow and leads the digital investment sector. This means we may see crypto market grow up again in the next few weeks or months. If it happens, Bitcoin and altcoin have a chance to jump again for their new ATHs.

[TravelMug]

If it will have the same scenario in 2020, the current dump may not last a long time. It is just a temporary impact because people are panicking about the possibility of a new wave of Covid. But we all know that Covid even makes crypto market grow and leads the digital investment sector. This means we may see crypto market grow up again in the next few weeks or months. If it happens, Bitcoin and altcoin have a chance to jump again for their new ATHs.

But now we already see that it doesn't have the same impact as it was in 2020 where the first news of the Covid-19 was released. So for now, we are just in temporary in the negative, but for sure this will not last long. Every market is the world sooner or later will have to recover from this news. This is how the market works so eventually this December we might see all of them getting into the positive and bouncing back including crypto market.

[kapalmabur]

If it will have the same scenario in 2020, the current dump may not last a long time. It is just a temporary impact because people are panicking about the possibility of a new wave of Covid. But we all know that Covid even makes crypto market grow and leads the digital investment sector. This means we may see crypto market grow up again in the next few weeks or months. If it happens, Bitcoin and altcoin have a chance to jump again for their new ATHs.

I also think the same thing because 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 when there was news that the initial emergence of Covid was really chaotic,
It's undeniable that during a pandemic the crypto market really continues to grow and of course that's a good thing for sure

[dataispower]

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.

[btc_angela]

If it will have the same scenario in 2020, the current dump may not last a long time. It is just a temporary impact because people are panicking about the possibility of a new wave of Covid. But we all know that Covid even makes crypto market grow and leads the digital investment sector. This means we may see crypto market grow up again in the next few weeks or months. If it happens, Bitcoin and altcoin have a chance to jump again for their new ATHs.

I also think the same thing because 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 when there was news that the initial emergence of Covid was really chaotic,
It's undeniable that during a pandemic the crypto market really continues to grow and of course that's a good thing for sure

Well we have the halving after that so it's really for bitcoin to go and have a massive bull run after that. And that's why we have quickly bounce back in 2020 and hit a new all time high and then we have like positive news coming along the way. But we are now in the tail end of the bullish run and with this news, it might dampen the market and who knows where it is going to end. Hopefully, the covid-19 strain news will not cause panic to pull the market even further down to $40k'ish.

[pealr12]

It is very surprising a new wave of covid has come again and the whole economy will suffer just like the previous, we can already see it affecting the stock market and crypto market, I hope soon thr market will stabilise in the market,  many countries are trying to understand this new covid and the best way to prevent it from spreading.

[AicecreaME]

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 new covid-19 variant which is omicron is still under the study of researchers and scientists. Since it is just discovered recently by African scientists, there are still so many things that are uncertain and unknown about the virus. Its way of transmission and the severity of illness it will cause to someone is still not yet known because the people who were reported to contact the virus were mostly youngsters that are known to not really acquire severe symptoms of the virus due to high immune system. What the scientists are afraid of right now is the mutations of it because once the virus omicron mutates again, it could boost up the fast spreading of the virus from one host to another which is a very big problem once again because if uncontrolled, it would infect so many people again. Just like what happened to previous strains before.

It could be another challenging season for most of us, most especially those who are into crypto because we all know how pandemic affected the market, not just crypto actually but the world in general. This would be a tough time once again, but I suppose it would just last a short span of time. Because we have an advantage right now compared before that no vaccines has been produced yet. Now, we have the vaccines and the scientists have the background information they need to check what are the similarities of this omicron variant to the previous ones. Hopefully, the vaccines are effective enough for this new strain and to future strains because the mutations are endless, we just have to adapt and be immune to it.

[Vaculin]

If it will have the same scenario in 2020, the current dump may not last a long time. It is just a temporary impact because people are panicking about the possibility of a new wave of Covid. But we all know that Covid even makes crypto market grow and leads the digital investment sector. This means we may see crypto market grow up again in the next few weeks or months. If it happens, Bitcoin and altcoin have a chance to jump again for their new ATHs.

I also think the same thing because 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 when there was news that the initial emergence of Covid was really chaotic,
It's undeniable that during a pandemic the crypto market really continues to grow and of course that's a good thing for sure

Well we have the halving after that so it's really for bitcoin to go and have a massive bull run after that. And that's why we have quickly bounce back in 2020 and hit a new all time high and then we have like positive news coming along the way. But we are now in the tail end of the bullish run and with this news, it might dampen the market and who knows where it is going to end. Hopefully, the covid-19 strain news will not cause panic to pull the market even further down to $40k'ish.

Well, we just need to stay calm and never gets panic once bitcoin price will drop more because for sure other crypto coins will eventually fall down their value. I am really expecting that this Omicron variant will cause us to struggle again just like what we had suffered in 2020. Expect that the country's economy will be down again due to the widespread of this covid variant. So even crypto market is not an exception because once a negative news like this will hit the market, it will definitely leave a serious dump in the market and this time, it may lead to another bear season. So we need to monitor the news and updates these days as they will be our guide what will be our next move.

[Kasabus]

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.