BTC coin will likely continue to soar with the new Covid 19 variant

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TL:DR Breakdown

  • The UK confirms a new Covid variant.
  • London will enter into the high tier 3 on Wednesday.
  • New Covid 19 variant will push Bitcoin (BTC) price up.

BTC coin will likely continue to soar with the new Covid 19 variant

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A new Covid 19 variant leaps into the UK forcing the Government to put in place stricter measures. Matt Hancock, the Health Secretary has declared that London will have to go into a tougher lockdown due to Covid 19 soaring.

Mr. Hancock explained in Parliament that they were able to identify the Covid strand because of their genomic capabilities. In the UK they had identified over 1000 Covid 19 variant cases, and the numbers appear to be increasing.

Kent, London, and Essex’s Hospitals are close to being overwhelmed. Cases are increasing among all age groups.

It is not just the UK that has adopted this new type of Covid 19. The UK has told the World Health Organization about their findings.

Mr. Hancock stressed that people should follow the rules strictly to avoid the spread of the Covid 19 variants.

London, south, west Essex, and south Hertfordshire will be converting from tier 2 high alert local restrictions to very high tier 3 from 00:00 GMT Wednesday. People in very high tier 3 will not be able to mix with people outside their household inside or outside unless they are in their support bubble.

UK pubs, cafes, and restaurants will close except for takeout and delivery services. This new variant means that investors are going to continue to turn to Bitcoin (BTC) as it is an investment that is impacted by tiers, unlike most other investments.

Mr. Hancock made his announcement at 15:30 GMT today, lets peer at what happened to the BTC coin at that time.

Bitcoin 1 hour graph

BTC coin will likely continue to soar with the new Covid 19 variant 1

According to the Moving Average Convergence Divergence ( MACD), there was bullish action from a little after 15:30 GMT when Mr. Hancock’s decision finally sunk in for investors. The MACD is green and pointing to bullish momentum.

We can see thin green candles appear, suggesting the sudden emergence of bullish action. At around 15:30 GMT the price for BTC is lower than the expected level of the Bollinger Bands ( BBs) but if we peer at how BTC has performed over the year amid Covid we can gather more clarity.

Bitcoin over the year

BTC coin will likely continue to soar with the new Covid 19 variant 2

Over the year, Bitcoin has had consistent bullish action. The oscillating MACD shows there have only been a few occurrences of red bearish action.

Throughout the year, BTC has been mostly bullish and on the upper expectation level of the BBs, which means it is surpassing what investors expect. The World Health Organization announced the world had entered into a pandemic on the 30th of January 2020, and by February the trend line was 14 degrees of bullish action.

Since August as cases continue to erupt across Europe, there was a new steeper, trend line which was 30 degrees suggesting significant bullish action.

With a new Covid era in-sight due to the new Covid variant, investors will likely opt to put their money into Bitcoin and continue to revel in its success.

Camomile Shumba

Camomile Shumba

I am a freelance journalist that is always learning and investigating. I explore how current issues affect you. My training in journalism has enabled me to write thorough and compelling content.

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