|Nov 23, 2018 01:43 PM||By: Art Vasquez | 2287 Views|
Black Friday, a shopping event recognized widely in Western cultures, has started today. The shopping event offers big deals the day after Thanksgiving and provides shoppers with the chance to catch bargains while covering up Christmas shopping early.
Black Friday is always seen as a big sale to most customers. Discounts from 20-90% can often be seen, and that's precisely what can be seen on most exchanges when seeing at the current price of BTC and altcoins.
The cryptocurrency market has been in price slump for the past eleven months with many thought we could very soon be at the bottom or are adjacent to it.
Bitcoin has dropped an additional 6.30% in price for Black Friday, now lying at $4280. Ethereum proceeds to drop in price, marking a further 8.74% decline in investment on Black Friday, down to $124.
Crypto holders could be looking to use some cash on the annual shopping day on digital assets. Some of the more significant discounted coins in the top 100 cover $POLY, $OMG and $BCH all dropping over 14% on the day.
Critics have suggested that the sell-off on black Friday is similar to people paying out digital assets to take right on sale with fiat. While the market has continued in a slump for the past two weeks, black Friday absolutely won't be improving the situation which is starting to look sadder as time goes on.
The total market cap currently sits at just over $139 billion — a record low for 2018 with no real sign of slowing down. The last four days have seen nearly $50 billion cleared from the market cap.
Maybe it might be a good idea to clean into some crypto purchases this Black Friday.