Coronavirus Vaccine By Moderna Therapeutics Sends BTC To New High

The new Coronavirus vaccine by Moderna Therapeutics has just sent BTC to a new 2020 high as we are reading more in today’s bitcoin latest news.

The situation around the possible new Coronavirus vaccine is still under development. Today, Moderna Therapeutics which is one of the biggest pharmaceutical companies announced that its preliminary data of launching a vaccine is more than 94% effective. This sent the stock prices higher and they are now all trading in the green after the Monday market open. However, as Bitcoin’s price is also increasing, it could reach a new highest level for this year above $16,500.

With the positive news on the COVID-19 vaccine emerging, one of the main pharma companies in the world shared that the vaccine is 94% effective. According to a CNBC report, the trial data from the preliminary phase shows this accuracy level, and speaking on the matter was the CEO of the company Stephane Bancel who said:

“This positive interim analysis from our Phase 3 study has given us the first clinical validation that our vaccine can prevent COVID-19 disease, including severe disease.”

Right after the news emerged, the company’s stock skyrocketed which was also well-received from the entire market as the major indices were trading in the green, moments after the news was announced. at the time of writing, the S&P 500 increased by 1.1% while NASDAQ and the Dow Jones Industrial Average is posing similar increases as well. The news came right after Pfizer announced their success of the vaccine trials last week.

It seems that history is repeating itself since once Pfizer announced the results of the trials, Bitcoin’s price increase and broke the previous yearly high. However, the crypto also dropped in value and lost more than $600 soon after it was ready to recover. Now, this looks similar but at the time of writing, BTC increased. It managed to hit a $16,640 intraday high on Binance which left the previous yearly high behind.

It remains to be seen if the cryptocurrency is able to sustain momentum or if we are about to see the situation repeating itself. At the time of writing, BTC is trading around $16,600.