PRESS RELEASE: Crypto Black Friday Brings A Record Lows in 12 Months

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Black Friday is a major shopping event that is widely marked in Western cultures and this year it falls on November 23. The event offers excellent sales deals the day after Thanksgiving. Shoppers catch huge bargains as they wrap up Christmas shopping early. However, the crypto market continues to languish in losses.

The cryptos experienced a gradual setback on Thanksgiving Day registering new year-to-date lows. Ethereum

-6.67 % is now crawling towards double-digits. The continuous bearish market is a source of dismay to all crypto traders and investors worldwide. Black Friday offers shoppers discounts of 20-90%. It seems like most crypto exchanges have followed suit according to the current price of altcoins and Bitcoin (BTC)

-3.70 % .

The crypto market has slid continuously from the December 2017 highs. Many analysts and experts think that the bottom might be quite near . However, the volatility is currently unpredictable and it could swing either way. BTC

-3.70 % at some point reached lows of $4,144 in price for Black Friday. Currently, it is hovering around $4,360 but the market sentiments still remain bearish.

Ethereum

-6.67 % continues to feel the plunging devastation seeing a further 8.74% price decline today sitting on $124. Many crypto hodlers may be planning to spend some cash on digital assets on this Black Friday. Some of the most affected coins in the top 100 include OMG, POLY, and BCH

-7.01 % which have declined by at least 14% on the day.

Analysts and speculators have linked the sell-off on black Friday to people cashing out some of their digital assets to get goods on sale with fiat. The market has remained in a significant slump in the past two weeks. Black Friday has come at an imperfect time where the sell-offs are not helping the crypto prices.

Currently, the total crypto market capitalization is just above $139 billion. It is a record low for the entire 2018 and the downside rush does not seem to have any end in sight any time soon. In the past four days alone, the markets have lost almost $50 billion to the cascading plunges. On the brighter side, it may be an excellent opportunity to purchase crypto assets when their prices are low this Black Friday.

Currently, the total crypto market capitalization is just above $139 billion. It is a record low for the entire 2018.

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The post Crypto Black Friday Brings A Record Lows in 12 Months appeared first on Cryptovibes.com – Daily Cryptocurrency News .

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