Bitcoin drops while COVID-19 vaccine clinical trials show positive results!
We have to admit that we expected another Bitcoin rally over the good news about the successful Coronavirus vaccine trials. The primary cryptocurrency did not seem to be that excited about the results.
On Monday morning, Bitcoin and the rest cryptocurrency markets tumbled after the big announcement, that the pharmaceutical company Pfizer in a collaboration with BioNTech had positive results, as the vaccine seems to be 90% effective. That means that we may soon have “a” cure for COVID-19. However, we can’t say much as the United States (FDA) have the last word about the formal vaccine approval.
Bitcoin is losing a tiny part of its value and regaining
BTC lost immediately about $1,000 (more than 5%) after the vaccine news, while Gold dropped approximately $50 ($1,950 to $1,900). According to TradingView data, BTC price dropped down at its daily low ($14,836) but quickly recovered. At the time of writing, its price is at $15,443. Today, BTC made a remarkable move and was about to break the last 2020 high, but unfortunately its attempt was not that successful.
Many investors and traders, believe that Bitcoin will somehow recover and will hit another new high. We should not forget to mention that the primary cryptocurrency is trading over $10,000 for 100 days in a row!
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