Omicron Sends Markets Down While Bitcoin Hodls And Ether Outperforms

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The comments made by the Moderna CEO regarding the possible reduced effectiveness of vaccines against the Omicron variant sent stock markets reeling yesterday, while Bitcoin was hodlingthe $57k level. According to famed analyst Scott Melker, tweeting under the moniker Wolf of All Streets, this proved that Bitcoin and stocks were not correlated.

Meanwhile Ether continued to climb, having won 11% in the past week, with some analysts saying the Vitalik Buterin developed coin is now a better investment than the Satoshi Nakamoto invention.

Moderna versus Omicron

Speaking about current vaccines and the Omicron variant, Moderna CEO Stéphane Bancel told the global business newspaper Financial Times that ‘there is no world, I think, where the effectiveness is the same level’, before he added, ‘I just don’t know how much because we need to wait for the data.’

In response to that, most stock markets ended the day either down or mixed while Bitcoin held the course.

The stock market is getting smoked after the Moderna CEO stated that vaccines will likely be ineffective against omicron.

Bitcoin is up.

Still not correlated.https://t.co/C5uKWyhYir

— The Wolf Of All Streets (@scottmelker) November 30, 2021

Edward Moya, analyst at foreign-exchange broker Oanda, claimed that:

Bitcoin is trading more like a risky asset than an inflation hedge.

Ethereum is still the favorite crypto bet for most traders and seems like it will make another run towards $5000 once risk appetite returns.

The US’s biggest business bank JP Morgan seems to agree that at this point Ethereum might be a better bet than Bitcoin. At the time of writing, Vitalik Buterin’s coin has risen some 500% this year already, and seems to be on course to do even better by the time 2021 will end.

Depositphotos.com / AndreaA.