Yet, Bitcoin (BTC) took a slight tumble in pricing on the news, following the announcement by BioNTech that the company and Pfizer have delivered a successful prototype. BTC lost an estimated $1,000 of its value.
BTC managed to recuperate to around $14,908 on Monday evening, indicating that a vaccine against covid-19 is indeed a good market for crypto markets.
According to Pfizer, its vaccine shows success in 90% of its subjects, making sure that recurrent covid-19 infections do not happen.
The vaccine was tested on 43,538 subjects so far and it's between Phase 2 and Phase 3 of testing. The vaccine is still a subject to an FDA approval, which mandates that:
“Submission for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) planned for soon after the required safety milestone is achieved, which is currently expected to occur in the third week of November.”
BTC during lockdown has fared quite well. Businesses posted strong gains over the period, and the currency began rallying despite the uncertainty in the global economy and the 46th Presidential election in the United States, which pitted Joe Biden vs Donald Trump.
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