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Bitcoin recovers to trade at $57,200; market sentiment still fearful
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cnbctv18.comBitcoin, the world's largest cryptocurrency, recovered on Monday, having lost over 8 percent or $6,000 on Black Friday following updates on the new coronavirus variant Omicron.Bitcoin price was up over 5 percent at $57,230 (over Rs 43 lakhs) at 10:50 am IST Monday, fighting the bullish momentum that was reining in the market from the past two weeks. Bitcoin failed to retest $60,000 last week due to continued strength in the US dollar.
Plus, the Federal Reserve hinted at tapering bond purchases and increasing interest rates, earlier than planned previously, making risky assets like cryptocurrencies less attractive. The final push came last week when WHO announced Omicron as a variant of concern.The World Health Organisation has said Omicron
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