Cryptocurrency Price Check: Bitcoin Bounces Back After Omicron Scare

Cryptocurrency prices were climbing out of the basement Monday following a stunning tumble sparked by fears tied to the latest Covid-19 variant.

Bitcoin was up nearly 5% to $57,055 at last check, while Ethereum was up 5.3% to $4,316.

Prices took a beating Friday, along with the rest of the market, amid concern about the omicron variant. But they rebounded as investors focused on forthcoming comments from Federal Reserve Chairman Jerome Powell.

Micah Carnahan, crypto expert and writer with Finder, said cryptocurrencies were not exempt from the fear-induced selloff. The new variant caused a brief panic during the Black Friday weekend, with nearly $200 billion of digital assets sold on the news.

Read More:Cryptocurrency Price Check: Bitcoin Bounces Back After Omicron Scare

2021-11-29 14:08:48

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