Bitcoin Drops About 8% With The Discovery of a New Mutated Strain of Covid-19

Bitcoin tumbled nearly 8% Friday, November 26, after the discovery of a new, potentially vaccine-resistant mutated strain of the coronavirus, prompting investors to dump riskier assets for assets they consider safer such as bonds, the yen, and the dollar.

Bitcoin, the largest cryptocurrency, fell as much as 7.8% to $54,377, its lowest level since October 12.

The scientists said the mutated strain, which was discovered in South Africa, Botswana, and Hong Kong, has an unusual mix of mutations and may be able to evade immune responses or be more susceptible to cases.

Ether, the second-largest cryptocurrency by market capitalization, fell as much as 11.6% to its lowest level in a week.

And recorded in the latest trading of $ 4,070, down nearly 18 percent from its highest level recorded on November 10.