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Bitcoin recovers after collapse, and little-known altcoin Omicron reaches all-time high due to new variant of COVID-19

Bitcoin is steadily rising on Monday. So, at the time of writing, Bitcoin is trading near $57,400 (+5.63% over the last 24 hours).

At the same time, the price of BTC sharply fell below $55,000 on Friday after the report of a new strain of coronavirus. During the weekend, BItcoin was trading in the red zone, but at the beginning of Monday's session, it showed robust growth.


Following Bitcoin's bullish sentiment, the leading altcoins also began to increase on Monday. Ethereum gained more than 6% and jumped to $4333, while Binance Coin rose almost by 4% to $611.

Cryptocurrency market experts say that bitcoin's rally is nothing more than an echo of Friday's sell-off, when the coin seriously slumped, reaching $54,000.

Analysts believe that such a spectacular rebound may become the beginning of the growth to new highs. At the same time, experts note that $60,000 is likely to become the next important level for bitcoin. If bitcoin breaks through this level, it may reach new highs. Otherwise, the bullish sentiment may change soon due to too many sellers.

Another important event for the crypto market was the spectacular growth of the little-known cryptocurrency Omicron. In just two days, the digital asset increased by 10 times. The World Health Organization (WHO) called Omicron the new South African variant of COVID-19.

At the beginning of the weekend, OMIC did not exceed $65. On Monday morning, the digital asset reached an all-time high near $655.

For inexplicable reasons, traders from around the world began to actively buy OMIC on the weekend that seriously rattled the markets on Friday.

Currently, Omicron is trading only on the decentralized exchange SushiSwap. Over the previous day, the trading volume on the OMIC/USDC pair reached $454,000.

The material has been provided by InstaForex Company -