Black Friday brings enormous deals to the general public, causing shopping frenzies in the entire U.S. But it’s not only boutiques that do Black Friday. Here are some Bitcoin-related Black Friday News.
Cryptocurrencies Suffer from Massive Slump
Bitcoins and other cryptocurrencies began going on sale yesterday, November 23, 2018, which is popularly known as Black Friday.
2018 wasn’t a particularly good year for cryptocurrencies in general. The bearish movement was apparent lately, with the value of Bitcoin dropping to $4,200 from $6,400. Ethereum also dropped in value and is now priced at $120. This is starkly different from the consistent bullish movement of Bitcoin in 2017 when its value increased to $20,000 in December of the same year. The current market cap has also gone down from $770 billion in January to $148 billion.
Other cryptocurrencies such as Bitcoin Cash (BCH), XRP, Ethereum (ETH), Stellar (XLM), EOS, and Litecoin (LTC) are following suit. In fact, the top 10 cryptocurrencies are suffering from a recent slump, with Bitcoin Cash as the top loser in the digital currency trading/investing game. The bottom five cryptocurrencies, including Bitcoin Cash, are selling at 90% off. The said cryptocurrencies are currently selling at the following prices:
- BCH at $225.45 from $2,432.00
- Cardano ADA at $0.046 from $0.73
- NEM XEM at $0.083 from $1.06
- IOTA at $0.32 from $3.95
- Dash at $109.26 from $1,054
The other cryptocurrencies are selling at the following prices:
- Binance BNB at $6.08 from $8.41
- Stellar XLM AT $0.19 from $0.48
- EOS at $3.67 from $8.84
- Tron TRX at $0.014 from $0.052
Will Heasman of Chepicap states that buying cryptocurrencies on sale is a good thing as “long as we get a bull run in the next 12 months”.
According to Coinpedia, other companies are also taking advantage of Black Friday sales in the industry, such as cryptocurrency mining hardware manufacturers Ledger, OpenDime, and Trezor.
Coinmama to launch Crypto Sunday tomorrow, November 25, 2018
Cryptodaily, a UK-based cryptocurrency online news site, reports that the Slovakian exchange Coinmama is launching Crypto Sunday tomorrow, November 25, 2018. It is the first and biggest organized global campaign which encourages retailers and cryptocurrency investors to take advantage of the Black Friday weekend sale period. The other one is Bitcoin Black Friday. Bitcoin Black Friday does not appear to be an organized effort by any crypto company, as its organizers’ identities are unknown.
Coinmama is launching Crypto Sunday to also get more consumers into investing in digital currencies. According to their website,
By offering special deals and significant discounts for customers paying with cryptocurrency, Crypto Sunday gives anyone with net access a compelling, practical reason to get into crypto. It’s good for the industry and good for customers – not only do they get a good deal but their monetary options are extended by learning about crypto.
Retailers who wish to take part in this campaign must sign up on the Coinmama website to include their deals on the Crypto Sunday shoppers’ list. Once the campaign goes live, shoppers can go on the website to check out deals they can pay for using their Bitcoin and other cryptocurrencies.
Microsoft and Expedia are just some of the big name retailers getting in on the Crypto Sunday craze.