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Bull Trader USA

Bitcoin Retreats 20% From Record, Joining Risk-Asset Sell-Off

Reuters

Cryptocurrencies tumble as coronavirus variant shakes markets

LONDON (Reuters) -Bitcoin tumbled over 9% on Friday, 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% to $53,551, its lowest since Oct. 10. Bitcoin, whose 13-year life has been peppered by bouts of extreme volatility, was on track for its biggest one-day drop since Sept. 20.

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