The new covid variant brought a new fear to the crypto market. Bitcoin has fallen to $51K, and so are the other major coins. Find out the latest news on why crypto is down today.
After moving to its recent lowest price of $42,000 on December 4, Bitcoin’s price recovered to $51.8K yesterday. However, today, it dropped to $50,163.54, with a 1.59% decrease in the past 24 hours. This is the primary reason why crypto is down today.
The low price isn’t limited to BTC only, but the whole market is seeing a downfall at this point. On December 4, Ethereum experienced the recent lowest price of $3632. It hasn’t recovered fully and is currently trading at $4319.12. It has plummeted 8.55% in the last seven days and 0.53% in the last 24 hours.
The new Covid variant Omicron shook worldwide markets, including hospitality and travel. The crypto market is affected immensely. BTC’s price is now similar to what it was in late August and early September. It took a while to recover back to its previous ATH price and made a new record of $69K on November 10. However, the price volatility never leaves BTC alone.
Looking at other cryptocurrencies: Solana is down 4.13% in 24 hours and 12.72% in the past week. Similarly, Cardano and Shiba Inu have plummeted 5.56% and 0.27% in the past 24 hours, and 12.94% and 18.80% in the last seven days, respectively.
Click here if you want to view the latest prices and market cap of all leading coins after the crypto is down.
