Covid-19 Vaccine: What Will It Benefit Other Than Bitcoin?

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Bitcoin (BTC) price first ate a $ 250 pump and then a $ 750 dump today with the news of the Coronavirus vaccine from Pfizer. It is seen that the BTC / USD parity has decreased to the level of $ 15,050 during the day. The majority of BTC investors could not protect their astonishment at this effect of the vaccine news. Famous economist Alex Krüger explained why the Covid-19 vaccine gospel negatively affected the BTC price and which investors would be happy about it.

As soon as the news about the Covid-19 vaccine was heard, it was not overlooked that the stock markets were also rising while the Bitcoin price fell. Especially the US and European stock markets reacted very positively to this news. Alex Krüger also announced in a series of tweets he published on the subject that the “winners” of this news are companies with low market value in stock exchanges, European stock exchanges and energy companies. Sharp decreases are observed in the shares of precious mining companies.

How Did the Covid-19 Vaccine Affect Bitcoin So Much?

Krüger emphasized that in the continuation of his statement, the economy will recover faster and higher real interest rates will be seen. In addition, Krüger stated that the markets expected that the vaccine would only provide between 50% and 60% protection, and emphasized that Pfizer’s 90% protection announcement brought the effect to such a huge level.

There was a linear correlation between Bitcoin and gold in previous months and years. This shows the reason for the fall of BTC and the rise of the stock markets after the economy returned to its former state. Treasury bonds and real interest rates lost their attractiveness, making gold investment the biggest catalyst. Now everything is reversed.

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Another factor in the acceleration of the Bitcoin price fall may be BTC’s transition to the overbought zone.


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