The current fall in bitcoin price seems to favor buyers this black Friday, buyers are getting as much as 20% discount in prices. Some crypto exchanges are going as far as giving away free bitcoin to new customers.
The current jumbo sales have stirred the interest of many buyers, pulling them to the shops to have a share of the ongoing bonanza.
While crypto investors are having sleepless nights, shoppers are carting away big shopping bags, shop owners and online sellers are smiling to the banks.
Since last week, bitcoin has experienced a fast downward slide going like 30% percent low. This largest digital currency which has been stable for some time now maintaining a level above $6000, suddenly went low by 15% during the United States trading hours to $5537 within few hours.
This down movement did not stop, even when it was like the crypto was regaining stability this week, it went down again. Presently the market value of bitcoin has gone down to $148 billion USD, which is far below the value a few months ago.
A lot of other leading cryptos were equally affected by the current slide in price, even going lower than bitcoin. Online shops have taken advantage of the current crypto market condition to make more sales and more money, this black Friday.
The special annual shopping period marking the beginning of Christmas shopping which is black Friday came amidst this period of a bearish market in the cryptocurrency space.
According to a report from The Independence, a website named “Bitcoin Black Friday” states that it is going to publish the best deals for Black Friday. Buyers will be able to view all the best bitcoin Black Friday deals in one place.
November 23rd has been chosen by the website as Bitcoin Black Friday when sellers will connect with buyers by listing out their best bitcoin offers for buyers to choose from.
A lot of consumers are now turning to online shopping, to benefit from these deals. Online shops slashed and increased the percentage of their discounts, as high as 20% for those paying in bitcoin.
Crypto exchanges are not left out in the market boom, the level of transactions increased with more new customers registering for crypto accounts.
Some exchanges are giving out free bitcoin to encourage new customers.