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Covid map shows Delta variant RAPID rise – & it spread even quicker than Kent strain

The Delta variant previously known as the Indian variant is continuing to cause the number of Covid cases to rise. This variant has caused a huge surge in Covid cases in the UK. New charts show just how fast this variant has been spreading.

The majority of Covid infections in the UK today can be attributed to the Delta variant.

This strain now accounts for about 95 percent of new cases of Covid in Britain.

It appears to spread more easily than the Kent variant which is also known as the Alpa variant, with a chart showing just how rapid the rise was.

The Delta variant of the coronavirus is thought to be about 60 percent more transmissible than the Kent strain, according to research by Public Health England.

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“Sixty per cent more infectious is extremely worrying—that’s the main thing that will drive the speed with which the next wave comes along.

Professor Andrew Hayward, an adviser to the government’s Scientific Advisory Group for Emergencies told the BBC: “The fact that the level of hospitalisations from this infection appear to be maybe up to double those of the previous infection is of course also extremely concerning.”

Public Health England recorded 35,204 cases of the Delta variant in the UK reaching a total of 111,157 cases of this variant being recorded across the UK.

The number of cases of the Delta variant has risen by 46 percent in a week across the UK.

Just like the Alpha variant the Delta strain first emerged in concentrated areas but it has now begun to spread across the UK.

The first outbreak of the Alpha variant recorded in the UK was in Kent.

Until recently the Delta variant has been confined to the North but, hotspots of the variant are now being recorded throughout the UK.

The majority of cases of the Delta strain are being reported in England, where there’s been a total of 102,019 recorded cases.

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The government said the delay of four weeks would allow them to vaccinate more people to help combat the concerning spread of the Delta variant.

Boris Johnson said the variant is “now spreading faster than the third wave predicted in the February roadmap”.

He added: “We’re seeing cases growing by about 64 per cent per week, and in the worst affected areas, it’s doubling every week.”
Hopefully, the variant will be under control within four weeks and the final easing of restriction will go ahead as planned.

Mr Johnson said: ”As things stand, and on the evidence that I can see right now, I’m confident that we will not need more than four weeks.”

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This post originally appeared on Daily Express :: Health Feed
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Analyst says Bitcoin could see ‘a smaller drawdown and a quicker bottom'

The cryptocurrency faithful got a reprieve from recent market struggles thanks to a rally in decentralized finance (DeFi) tokens and Dogecoin (DOGE) on June 2. A bit of a breakout in the price of Ether (ETH) and Bitcoin (BTC) may have also lifted sentiment, but at the moment, the top-ranked digital assets are still meeting pushback at key overhead resistance levels. 

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin rallied 7.3% from a low of $ 35,645 on June 1 to an intraday high at $ 38,250 on June 2, and Ether saw a similar-sized gain of 7.7% to briefly regain the $ 2,800 support level.

While the uptick in prices has many calling for a continuation of the 2021 bull market, some analysts have highlighted a possible bearish pennant formation on the Bitcoin chart, which could result in a price breakdown to as low as $ 16,000.

Bitcoin pennant structure and its primary downside target. Source: TradingView

Market top or bull market breather?

Bitcoin’s volatile price action over the past month has led many to speculate on whether the top is in for BTC or the current correction is just a mid-cycle breather that will prepare the asset for continuation once the rally resumes. 

Deeper insight into the matter was provided in a recent Delphi Digital report that discussed the MVRV ratio, an on-chain metric that measures Bitcoin’s market value (MV) against its realized value (RV) as an indicator that can help traders determine market tops and bottoms.

Bitcoin MVRV ratio vs. price. Source: Delphi Digital

The chart above shows that the MVRV ratio became overextended in early 2011, late 2013 and early 2018, “all of which represented cycle tops,” as highlighted by Delphi Digital. The researchers also suggested that “May 2021’s reading could very well indicate the top for this cycle.”

While it is possible that the top may be in for the current cycle, Delphi Digital also noted that there is the potential for the market to “see an outcome that resembles 2013’s ‘double bubble’ where BTC made an ATH [all-time high], price fell hard, and then recovered well past the ATH in the same year.”

The report further highlighted the fact that the threshold for determining Bitcoin’s bottom has increased over time, which could change the landscape of bull markets in the years ahead.

According to Delphi Digital:

“Given the steep drop in MVRV so far, it’s possible that BTC could see a smaller drawdown and a quicker bottom than in previous cycles. This would resemble something like global equities, which have multi-month corrections and multi-year bull cycles.”

As a note of caution, the report did point out that while “There’s a lot of conflicting data and sentiment” in the market currently, there is likely to be “an episode of mean reversion in coming weeks as price deviated far from its 50 day moving average.”

BTC base case: mean reversion. Source: Delphi Digital

“Historically, BTC price has been fairly close to its 50 day MA. And looking at previous drawdowns, BTC has always posed a healthy relief rally after a deep retracement. This is a result of natural market reflexivity.”

Altcoins stage double-digit rallies

Altcoins notched double-digit gains during June 2’s price action, led by a 53% gain in the price of Kyber Network’s KNC token, which is now back above $ 2.50. KAVA also secured a 37% rally and currently trades near $ 4.70.

Daily cryptocurrency market performance. Source: Coin360

Dogecoin, Kusama’s KSM token and Curve DAO’s CRV token also helped lead the altcoin charge, with price rallies around 25%, while OKB put on a 33% gain and trades near $ 17.70.

The overall cryptocurrency market capitalization now stands at $ 1.709 trillion, and Bitcoin’s dominance rate is 41.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision.