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Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

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Fri, 11/22/2019 - 15:59
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  • Bitcoin finally gets its big holiday price cut the bears have been eagerly waiting for

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Even though Black Friday is expected to start on Nov. 29, it's arrived early in the world of crypto. The Bitcoin price has just dropped to as low $6,880, its lowest price level since May.

This is now officially the biggest discount since Sept. 25 when Bitcoin plunged from $10,000 all the way down to just $8,000. 

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Multiple crypto influencers suggest that Bicoin's steep fall, which was driven by the China crackdown news, could be a good opportunity to stack more sats instead of buying another tablet on Amazon. 

Bitfinex CTO Paolo Ardoino says that BTC is incredibly cheap today even though shoppers have to wait one week more for Black Friday. 

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Crypto analyst Ronnie Moas points out that the Bitcoin price is down by more than 50 percent, which would be one of the deals you could find during the upcoming shopping pandemonium. He also states that it would be interesting to see how things play out next year since the fair value of Bitcoin should be around $28,000.

As reported by U.Today, market analyst Willy Woo warned Bitcoin bulls that the top cryptocurrency might not go parabolic after the next halvening given how bearish its price action was. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry β€” from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Wed, 04/01/2020 - 07:13
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crypto to
work
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  • Mike Novogratz is convinced that when central banks make money grow on trees, then it's time to buy Bitcoin

Cover image via www.bloomberg.com
Contents

When central banks make money grow on trees, Mike Novogratz, the CEO of Galaxy Digital, has one message for his followers - buy Bitcoin (BTC). 

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Yes, money does grow on trees   

'Money doesn't grow on trees' is a popular expression that parents constantly hammer into the heads of their children. It means that money is a limited resource and encourages people to put in a significant effort in order to obtain it. 

However, this fable apparently doesn't apply to the U.S. Federal Reserve and the Bank of England, who unleashed unlimited liquidity to save the ailing global economy from the coronavirus-driven fallout. 

As absurd as it sounds, fiat money does grow on trees in 2020 (at least for central banks). 

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2020 could be Bitcoin's year 

Against this backdrop of incessant money printing, Bitcoin, a disinflationary currency whose total supply is strictly limited to 21 mln, has never seemed more attractive. Novogratz described it as the strongest bull case for the benchmark cryptocurrency. 

Even though crypto failed to perform as a safe haven during the coronavirus-driven sell-off, the Wall Street bull recently opined that 2020 could end up being another big year for Bitcoin.     

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry β€” from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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