Bitcoin Goes Down After New Covid-19 Strain In South Africa

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Bitcoin: The fear caused by the pandemic impacted the world economy in several ways, and even the cryptocurrency market was not immune. After the announcement of the new coronavirus variant in South Africa, named B.1.1.529, the value of bitcoin dropped to $53,000 at some brokerages.

Last Thursday (25th) night, the value of bitcoin ranged between US$ 58,000 and US$ 59,000, however, at 9 am this Friday (26) the price dropped to US$ 53,587 — at closing of this matter, the value had stabilized at around US$ 54,000.

Fall can generate opportunity

A few weeks ago, the cryptocurrency reached the historic value of around US$ 69 thousand and, since then, the drop has already reached 21%. Despite the complicated acceptance of bitcoin in relation to the traditional investment market, experts believe that the currency should reach the value of $1 million for a unit in a few years.

The crash came shortly after the South African government revealed details about the new variant of the coronavirus, which has also been detected in Botswana residents and a South African traveler who was in Hong Kong — a meeting with the WHO should be held this Friday (26) to understand the new situation.

Anyway, it is important to point out that many investors believe that the fall is an opportunity to buy more fractions of the currency. Other cryptocurrencies have also had considerable declines in the last 24 hours, such as Ethereum, BNB, Polkadot, and others.