Bitcoin gains are still on the high as the new variant of Covid-SARS is making rounds on the internet as well as the news. The fear of Omicron is all over the globe. However, one investor has pointed out that in China, investors are least concerned about Omicron. Thus, Bitcoin’s gains are still up on the third day.
The Current Scene
The current value of BTC is $57990. Almost all markets are still predicting a rise in the value of Bitcoin. The impact of Omicron is still premature. The new strain is still under control. However, quite a few nations are considering lockdowns. The inbound and outbound flights in various nations have already been stopped. The impact that this will have on the crypto market, as well as the traditional market, remains to be seen. If the previous two lockdowns are of any indication, this will mean bad news to everyone, especially those who deal in traditional markets and investments.
What may happen?
Many experts are anticipating a steep rise in BTC and are sure that it will touch the mark of 60 thousand dollars. However, Omicron will probably play a major role in determining the whole trend of the crypto market. If any lockdowns are imposed, the holiday spendings will dwindle. This might have a negative effect on various markets.
It is still premature to come to any conclusion as of now. However, quite a few countries will not impose strict lockdowns this time as they will probably kill off their economies.