The previously relatively unknown Omicron cryptocurrency is further rising, though it is no longer at its record highs. The token surged immediately after news of the new Omicron COVID-19 variant spread in the media. The uptrend is likely to proceed.
Omicron (OMIC) rose nearly 10 times in some hours after the World Health Organization (WHO) named the new B.1.1.529 coronavirus variant Omicron in late November. According to Coingecko, the unpopular currency was trading at $65 per coin. However, on November 29, it instantly soared by 960% to $689.12, hitting an all-time high. This situation seemed to be temporary and a collapse was imminent. Nevertheless, that prediction was only half verified. At the moment, Omicron tends not to go down and is trading at $350 a coin.
However, traders should not be tempted to invest in this unpopular coin. Experts warn that this rapid growth is a clear sign of an economic bubble.
The coronavirus variant Omicron has been detected in South Africa. One of its characteristics is fever and fatigue while retaining smell and taste. The WHO said that existing vaccines for coronavirus are effective against the new variant.
