Affected by the South Africa epidemic, the overall market value of cryptocurrencies fell by 200 billion U.S. dollars

The newly discovered variant of the new coronavirus in South Africa has affected all financial markets. As the world’s most important stock index futures contract plummeted, the cryptocurrency field has also undergone a large-scale adjustment. Bitcoin fell to a six-week low, while the prices of some altcoins saw double-digit declines, and the overall market value of cryptocurrencies fell by $200 billion. Specifically, Bitcoin fell by $5,000 in a few hours to an intraday low of $54,300, which is the lowest price point since October 13. The price collapse coincided with similar developments in global stock markets. Fearing that the new coronavirus variants in some African countries will cause the epidemic to expand, the futures contracts of popular stock indexes such as the Dow Jones, S&P 500 and Nasdaq plummeted. Dow Jones index futures fell more than 2%, the S&P 500 index fell nearly 1.7%, and oil prices fell even more. US crude oil futures fell more than 5.5%. (CryptoPotato)