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04.12 - 11:03
Bitcoin tumbles nearly 8% as new coronavirus variant shakes markets
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business-standard.comBitcoin 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.
Bitcoin, the largest digital currency, fell as much as 7.8% to $54,377, its lowest since Oct. 12.
It was on track for its biggest one-day drop since Sept. 20, and has slumped by more than a fifth since hitting a record high of almost $70,000 earlier this month.
Scientists said the variant, detected in South Africa, Botswana and Hong Kong, has an unusual combination of mutations and may be able to evade immune responses or make it more transmissible.
"The spread of (the variant), especially to other countries, could wither investor
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