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Bitcoin price drops 8% amid fears of COVID B.1.1.529 variant discovered in South Africa. Here's why

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Bitcoin tumbled almost 8 per cent on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant called B.1.1.529.Bitcoin, the largest cryptocurrency, fell as much as 7.8 per cent to $54,377 (about €48,000), its lowest since October 12.

It was on track for its biggest one-day drop since September 20.Friday's slump comes just Bitcoin appeared set for a breakout above $60,000 (€53,000) after a rise on Thursday.The markets have seen investors dump riskier assets for the

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