Founded in 2009, Bitcoin (BTC) is the leading cryptocurrency designed to fit a peer-to-peer electronic cash system.
It continues as the digital asset with the largest market capitalization, notwithstanding being the first and the oldest of its kind.
Recognized as the brainchild of the still-unknown individual (or maybe a group of people) under the alias Satoshi Nakamoto, Bitcoin, aka the ‘grandfather’ of cryptocurrency, is the well-known leading application of the novel blockchain technology.
BTC began the week incredibly. At the same time, the remainder of the world has fallen over fears of the new Omicron coronavirus variant. At the same time, stock exchanges worldwide are going into freefall, following WHO’s official notice versus the new viral strain and following border closures over the globe.
Bitcoin seems to be testing the trend by rising six percent in only a couple of hours on Monday. As stated by CoinMarketCap, Bitcoin caught a 24-hour high of $57,793.31. At the time of writing, BTC is remaining somewhat lower at $57,480.06.
Bitcoin never sleeps
In extension, Microstrategy founder and CEO Michael Saylor posted on Twitter that Bitcoin never sleeps. In fact, crypto expert and analyst Lark Davis stated in Saylor’s tweet. He mentioned that Bitcoin jumped back from an insane trend line retest.
Such as everyone else, Bitcoin fell on Black Friday following the WHO announcement, sinking by eight percent in a single day. Concurrently, other cryptocurrencies also decreased considerably, particularly Ethereum, which fell under $4000 on Friday. Nevertheless, Bitcoin had jumped back substantially on Monday.
On the other hand, stock markets were responding to shockwaves from the new coronavirus variant Omicron. Meantime, Australia’s ASX 200 began the day down 1.7 percent before growing. The US was under by two percent, while the UK crashed 3.6 percent.