From Friday to Saturday night, the most popular virtual currency suddenly plummeted, losing almost 20% of its value.
Bitcoin lost $ 10,000 (some 10,378 francs) in an hour from Friday to Saturday, or almost 20%, before recovering slightly, but was hit by a precautionary measure.
At 5pm on Saturday, the virtual currency traded 10% lower at $ 48,210 on Friday night. At 6 a.m., without any specific explanation, it suddenly dropped to $ 42,296.
Wall Street in red
“Cryptocurrencies (the Omicron variant) were shaken by the broader risk conditions and more aggressive (US monetary policy) expectations, but the stock markets really started to bounce back on Friday following the crash,” Martha Reyes commented. , Is a leader in research for cryptocurrency exchange Bequant.
Major Wall Street indices ended in real red on Friday, driven by weakness in technology stocks.
Used for violent movements
The decline of bitcoin, which is used for violent movements, is that the currency has been moving within a limited trading range since the end of November and some investors may have wanted to unleash certain levels, Martha Reyes believes in a note. . The same sentiment applies to the Anto Baron of ARK36 Fund, which specializes in cryptocurrencies.
After hitting a record high of $ 68,363 on November 10, the virtual currency fell again and “repeatedly failed to cross the $ 60,000 mark”, Bitcoin said in a note recalling a continued 20% to 30% decline.