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.
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.
BTC is cheap today. I thought #BlackFriday was in one week...— Paolo Ardoino (@paoloardoino) November 22, 2019
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.
#BlackFriday sale a week early | $BTC #bitcoin $7,000 | 50% off the June high ($14,000); 75% below fair value ($28,000). Will be interesting to see how this plays out in 2020. No guarantees in investing. High payout expectations usually come w/ high risk | this will not be easy $— Ronnie Moas (@RonnieMoas) November 22, 2019
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.