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Cryptocurrencies tumble as coronavirus variant shakes markets
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Bitcoin tumbled over nine percent on November 26, dragging smaller tokens down, 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 9.2 percent to $53,551, its lowest since October 10. The second-largest cryptocurrency ether fell over 13 percent to its lowest in a month as investors ditched cryptocurrencies.
Bitcoin, whose 13-year life has been peppered by bouts of extreme volatility, was on track for its biggest one-day drop since September 20. It has slumped by more than a fifth since hitting a record high of almost $70,000 earlier this month.
Scientists said the
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