The University of Washington's own highly influential model says the number of daily reported cases in the US will crest at 1.2 million by January 19 and will then fall sharply. Scientists are seeing signals that Covid-19′s alarming omicron wave may have peaked in Britain and is about to do the same in the US, at which point cases may start dropping off dramatically.The reason: The variant has proved so wildly contagious that it may already be running out of people to infect, just a month and a half after it was first detected in South Africa.
“It’s going to come down as fast as it went up,” said Ali Mokdad, a professor of health metrics sciences at the University of Washington in Seattle.
At the same time, experts warn that much is still uncertain about how the next phase of the pandemic might unfold. The plateauing or ebbing in the two countries is not happening everywhere at the same time or at the same pace. And weeks or months of misery still lie ahead for patients and overwhelmed hospitals even if the drop-off comes to pass.There are still a lot of people who will get infected as we descend the slope on the backside,” said Lauren Ancel Meyers, director of the University of Texas COVID-19 Modeling Consortium, which predicts that reported cases will peak within the week.
The University of Washington's own highly influential model says the number of daily reported cases in the US will crest at 1.2 million by Jan. 19 and will then fall sharply “simply because everybody who could be infected will be infected,” according to Mokdad.
In fact, he said, by the university's complex calculations, the true number of new daily infections in the US — an estimate that includes people who were never tested — has already peaked, hitting 6 million on Jan. 6.Britain, meanwhile, new Covid-19 cases dropped to about 140,000 a day in the last week, after skyrocketing to more than 200,000 a day earlier this month, according to government data.
Kevin McConway, a retired professor of applied statistics at Britain’s Open University, said that while cases are still rising in places such as southwest England and the West Midlands, the outbreak may have peaked in London.
The figures have raised hopes that the two countries are about to witness what happened in South Africa, where the wave crested at record highs and then fell significantly about a month later.
“We are seeing a definite falling-off of cases in the U.K., but I’d like to see them fall much further before we know if what happened in South Africa will happen here,” said Dr. Paul Hunter, a professor of medicine at Britain’s University of East Anglia.Differences between Britain and South Africa, including Britain's older population and the tendency of its people to spend more time indoors in the winter, could mean a bumpier outbreak for the country and other nations like it.
On the other hand, British authorities' decision to adopt minimal restrictions against omicron could enable the virus to rip through the population and run its course much faster than it might in Western European countries that have imposed tougher Covid-19 controls, such as France, Spain and Italy.
Shabir Mahdi, dean of health sciences at South Africa’s University of Witwatersrand, said European countries that impose lockdowns won't necessarily come through the omicron wave with fewer infections; the cases may just be spread out over a longer period of time.
On Tuesday, the World Health Organization said there have been 7 million new Covid-19 cases across Europe in the past week, calling it a “tidal wave sweeping across the region.” WHO cited modeling from Mokdad's group that predicts half of Europe’s population will be infected with omicron within about eight weeks.
By that time, however, Hunter and others expect the world to be past the omicron surge.
“There will probably be some ups and downs along the way, but I would hope that by Easter, we will be out of this,” Hunter said.
Still, the sheer numbers of people infected could prove overwhelming to fragile health systems, said Dr. Prabhat Jha of the Centre for Global Health Research at St. Michael’s Hospital in Toronto.
“The next few weeks are going to be brutal because in absolute numbers, there are so many people being infected that it will spill over into ICUs,” Jha said.
Mokdad likewise warned in the US: “It’s going to be a tough two or three weeks. We have to make hard decisions to let certain essential workers continue working, knowing they could be infectious.”
Omicron could one day be seen as a turning point in the pandemic, said Meyers, at the University of Texas. Immunity from all the new infections, along with new drugs and continued vaccination, could render the coronavirus something with which we can more easily coexist.
“At the end of this wave, far more people will have been infected by some variant of COVID,” Meyers said. “At some point, we’ll be able to draw a line — and omicron may be that point — where we transition from what is a catastrophic global threat to something that’s a much more manageable disease.”
That's one plausible future, she said, but there is also the possibility of a new variant — one that is far worse than omicron
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TOP TRENDING TERMSHANG SENGDOW JONESKOSPIIPOCRYPTOCURRENCYFOREXSGX NIFTYRECOSSTOCK MARKETSBI SHARE PRICETOP GAINERSSILVER PRICEMCX NEXT STORY TOP SEARCHESVODAFONE IDEA SHARE PRICECRYPTOCURRENCYTOP STOCK RECOMMENDATIONSIPO ALLOTMENT PROCESSSENSEXNIFTYCURRENCY CONVERTERSBI SHARE PRICE CRYPTOCURRENCY READ ON APP Top cryptocurrency prices today: Bitcoin extends loss; Cardano, Terra drops 4%
Synopsis Bitcoin, which turned 13 today, is celebrating its birthday on a dull note as the cryptocurrency has dropped about 8 per cent in the last one week. By Pawan Nahar, ETMarkets.comJan 04, 2022, 09:12 AM IST3 New Delhi: The cryptocurrency market was trading in the red, thanks to lower volumes which impacted liquidity for traders. Barring the dollar-pegged USD Coin and Polkadot, eight out of the top 10 digital tokens were trading lower at 8.30 am IST. Bitcoin extended its cuts, whereas Binance Coin, Cardano and Terra dropped 4 per cent each.
The global crypto market cap was down over a per cent $2.21 trillion mark compared to the last day. The total crypto market volume dropped more than 2 per cent to $$88.42 billion.
Bitcoin, which turned 13 today, is celebrating its birthday on a dull note as the cryptocurrency has dropped about 8 per cent in the last one week.
What's cooking in India? Cryptocurrency platforms that are facing increased scrutiny from tax authorities for Goods and Services Tax (GST) evasion are unclear about "applicable provisions" under the country's indirect tax regime amid regulatory uncertainty, industry executives said. ALSO READ Ad:Buy & sell Bitcoin and other cryptos instantly with just ₹100 Explore
After the Goods and Services Department, which slapped a ₹40 crore GST demand on crypto exchange WazirX last month, the Directorate General of Goods and Services Tax Intelligence (DGGI) - under the ministry of finance - is scrutinizing multiple crypto firms including Buyucoin and Unocoin. TOP 5 NEWS IN MARKETS 1. Weekly Top Picks: Stocks which scored 10 on 10 2. Where's Nifty headed in 2022? Global brokerage says nowhere 3. Sectoral comebacks: Top themes to bet on this earnings season 4. Mukul Agrawal buys 70 lakh shares of this logistics firm 5. Bizarre! Stock up 12,800% in 2 years but co making losses for many years
Even as the indirect tax department initiated investigations against several crypto exchanges for escaping Good and Services Tax (GST) liability, it may have also set a precedent around the categorisation of crypto assets for taxation. ADVERTISEMENT
Expert's Take A choppy trading session for Bitcoin and major altcoins with low volumes witnessed across centralised exchanges. The start of 2022 has been relatively lacklustre, adding on to the poor showing, said CoinDCX Research Team.
"With no clear direction, price action has been range-bound at best, with overall market sentiment leaning towards a slight bearish bias. Though if history were to repeat itself, it will not be long before We start seeing funds flows back into crypto," it added. ADVERTISEMENT
Global Updates A growing number of Indians are investing in cryptocurrencies despite extreme volatility and lack of regulation. But the trend is not just due to the prospect of high returns. Some took to crypto to bet on blockchain technology.
CryptoWire, the global crypto app which is a special business unit of TickerPlant, on Monday said it has launched India’s first index of cryptocurrencies, named IC15.
NFT Buzz The value of NFT space is being increasingly acknowledged by people from the entertainment industry, with the latest purchase made by one of the most popular rappers, Eminem. He bought ‘Bored Ape Yacht Club’ for $450,000 and people have discovered that he owns 166 other NFTs.
Back home, Indian cryptocurrency exchanges seem to have taken a shine to non-fungible tokens (NFTs). At least half a dozen crypto platforms are foraying into the NFT space, assuming that it would not be outlawed as NFTs hold an underlying asset that is traded in digital form.
Tech view by Giottus Cryptocurrency Exchange Terra is a blockchain-powered protocol that relies on fiat-pegged stablecoins to deliver price-stable global payments systems for crypto users. Its coin - LUNA - has been on a blinding run lately, going from $4 in May 2021 to over $100 in December 2021.
While LUNA looked set to be in price discovery mode, it finally faced resistance on higher time frames - particularly the trendline from its August low. A 15% rejection followed and it seems LUNA may likely look at support situated at $79 before moving ahead.
This support line will also have confluence with a support trendline stretching from November and should hold strength. While the next major support line is available at $65, LUNA should ideally remain above $76 to prevent a lower-high formation that may lead to further potential downside.
With an RSI (14) value dipping below the 50s and a MACD that has already had a bullish crossover, the worst may be over for LUNA in this minor correction. However, external factors such as Bitcoin’s price will continue to play a role in the short to mid-term.
Now playing: How India's Polygon is helping Ethereum scale ( Originally published on Jan 04, 2022 ) READ MORE ON CRYPTOCURRENCY PRICE TODAYBITCOINCARDANOTERRABITCOIN PRICE TODAYCARDANO PRICE TODAYTERRA PRICE TODAY (What's moving and Track , and on . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, .) 3 Amazon Sale ending tonight | Upto 70% off on Appliances, Electronics, Fashion, Furniture & many more...
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