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Bitcoin tumbles as coronavirus variant sees riskier assets dumped

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Reuters

Fri, Nov 26, 2021

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Currencies LONDON, Nov 26 (Reuters) - Bitcoin tumbled almost 8% on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar.

20, and has slumped by more than a fifth since hitting a record high of almost $70,000 earlier this month.

"BTC's upside will likely be limited and the market should brace for further loss." Bitcoin hit an all-time high of $69,000 earlier this month as more large investors embraced cryptocurrencies, with many drawn to its purported inflation-resistant qualities.

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