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Bitcoin, Ethereum and Altcoins Nosedive

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Bitcoin price failed to settle above the USD 58,500 resistance zone. BTC struggled to continue higher and started a sharp decline below USD 55,000, after stock markets in Asia and US stock futures all pointed lower on fears over a new variant of the coronavirus that is spreading in South Africa.

It is currently (11:32 UTC) down almost 7% and traded to a new weekly low.Similarly, most major altcoins are moving lower. ETH is down 8% and it even tested USD 4,000.

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