Financial markets, including the cryptocurrency market, have been through rough days due to the discovery of a new variant of COVID-19 on the African continent. Meanwhile, government decisions in the United States could be key for the short term of crypto assets.

The cryptocurrency market crashed the previous week following the discovery of the Omicron variant in South Africa, which is speculated to be resistant to the variety of vaccines that have been applied worldwide. This has generated panic among investors all around the world, which has been detrimental to assets with high volatility such as cryptocurrencies and on the other hand, has favored safe-haven assets, such as Treasury bonds and the Japanese yen. According to a technical report from the World Health Organization, the appearance of this variant has been evaluated as a “very high” global risk. However, they mention that the characteristics of the strain must be evaluated in greater depth, and the level of protection of the vaccines against it must be analyzed. Meanwhile, the first cases have been presented on the European continent, so it is recommended that you obey the health authorities and take precautions, all for your health and that of your loved ones. The United States Securities and Exchange Commission (SEC) announced last Wednesday the title of its next advisory panel for investors, which will be “Helping to Ensure Investor Protection and Market Integrity in the Face of New Technologies.”. This panel will be held on December 2 and will be open to the general public. It is expected that this will address various issues focused on the regulatory framework that covers digital assets, the problems presented by the market structure and the risk generated by the implementation of emerging technologies. Among them, blockchain technology, NFTs and stablecoins.

It is recommended to be aware of this event, since it can touch on issues of great impact on crypto assets, in addition to giving us a broader panorama of what is coming next year in regulatory matters, complemented by opinions of great experts in the area. Nayib Bukele, president of El Salvador, announced last Friday the purchase of 100 Bitcoins by the government of his country, after a rather strong crash which ironically was related to the discounts on “Black Friday”. This shows the Salvadoran government’s stance in favor of crypto assets, which has generated quite a bit of controversy across the planet. That purchase was made after the world’s largest digital currency plunged almost 8%, at a price of approximately $54,000. It seems that it was a very good move by Bukele, since Bitcoin has subsequently made bullish movements before what could be the end of a fairly prolonged correction. Despite the aforementioned, the cryptocurrency market has started the week on the right foot. Bitcoin is above $57,000 after a correction that brought it down to very close to $54,000, where it was a rather difficult area to break. Let’s see if it manages to break above $60,000, which would show the continuation of an uptrend that comes back from the month of July. BTC/USDT 1D (TradingView Chart). For its part, Cardano, after a long downtrend which has terrified a large number of investors, is trading close to $1.57. Will this be the end of the ADA crash and will we finally be able to witness a turnaround? ADA/USDT 1D (TradingView Chart). Very important days are coming, with strong news which will determine the course of crypto assets for the beginning of 2022, so it is recommended to be aware of everything related to health issues and regulations. Without further ado, we wish you an amazing week.