I am observing today something similar to what happened in 2020 but at a micro-scale. The announcement of a new COVID variant that may be resistant to current vaccines has sent the Dow and the S&P down the drain, particularly airlines and other travel hospitality linked business. Zoom stocks are up, mining and raw materials down,... It looks like a repetition also in bitcoin price with a plunge that may be ongoing.
For those of you that are newer on hodling, just calm down, this is nothing new, bitcoin will be there tomorrow and, likely, rebounding after the initial collapse caused by the stop-loss orders triggering of the first days.
The new covid-19 variant which is omicron is still under the study of researchers and scientists. Since it is just discovered recently by African scientists, there are still so many things that are uncertain and unknown about the virus. Its way of transmission and the severity of illness it will cause to someone is still not yet known because the people who were reported to contact the virus were mostly youngsters that are known to not really acquire severe symptoms of the virus due to high immune system. What the scientists are afraid of right now is the mutations of it because once the virus omicron mutates again, it could boost up the fast spreading of the virus from one host to another which is a very big problem once again because if uncontrolled, it would infect so many people again. Just like what happened to previous strains before.
It could be another challenging season for most of us, most especially those who are into crypto because we all know how pandemic affected the market, not just crypto actually but the world in general. This would be a tough time once again, but I suppose it would just last a short span of time. Because we have an advantage right now compared before that no vaccines has been produced yet. Now, we have the vaccines and the scientists have the background information they need to check what are the similarities of this omicron variant to the previous ones. Hopefully, the vaccines are effective enough for this new strain and to future strains because the mutations are endless, we just have to adapt and be immune to it.