Bitcoin Bounces Back Amid COVID-19 New Variant Omicron

Bitcoin (BTC) started the week incredibly, while the rest of the world has plummeted over fears of the new Omicron Covid-19 variant. At the same time, stock exchanges around the world are going into freefall, following WHO’s official warning against the new viral strain and subsequent border closures around worldwide.

Bitcoin looks to be challenging the trend by climbing six percent in just a few hours on Monday. According to CoinMarketCap, Bitcoin hit a 24-hour high of $57,793.31. At the time of writing, BTC is sitting slightly lower at $57,480.06.

In addition, Microstrategy founder and CEO, Michael Saylor posted on Twitter, “Bitcoin never sleeps.” In fact, crypto expert and analyst Lark Davis commented on Saylor’s tweet and mentioned that Bitcoin bounced back from an insane trend line retest.

Like everyone else, Bitcoin plunged on Black Friday following the WHO announcement, dropping by eight percent in a single day. Together, other cryptocurrencies also dropped considerably, especially Ethereum, which dipped below $4000 on Friday. However, Bitcoin had bounced back considerably on Monday.

On the other hand, stock markets were feeling shockwaves from the new COVID-19 variant Omicron. Meanwhile, Australia’s ASX 200 started the day down 1.7 percent before beginning to recover and the US was down by two percent, while the UK crashed 3.6 percent.