The post Bitcoin Black Friday Sale: Why Buying Now Is the Smartest Move! appeared first on Coinpedia Fintech News
In the latest X post, Samson Mow, the CEO of JAN3 and a renowned Bitcoin maximalist has issued a message to his followers amidst a recent Bitcoin crash in the last 24 hours. He asked his followers to enjoy the Bitcoin Black Friday sale.
The Bitcoin Black Friday Sale
Notably, Bitcoin has dropped by 5.98% in the last 24 hours and is currently trading at $92,555. There were consecutive red candles on the hourly chart with a few green candles as Bitcoin made several attempts to recover.
The flagship crypto has lost roughly 7.14% since Friday last week when it reached a new all-time high, just a few inches away from the $100,000 level. Notably, Black Friday starts this week on November 29, hence Mow posted the ‘Bitcoin Black Friday’ message on X.
Bitcoin Faces Selling Pressure
Bitcoin faced selling pressure, dipping to an intraday low of $91,583. Its market dominance dropped to 57.38% as long-position liquidations aggravated the downward trend. Also, Bitcoin may experience volatility in the short term as $9.4 billion worth of options expire this Friday.
The broader cryptocurrency market declined as the dollar index rose 0.18% to 107, supported by US President-elect Donald Trump’s tariff announcements on imports from Canada, Mexico, and China. Trump confirmed his plans to impose a 25% tariff on Canadian and Mexican goods and an additional 10% on Chinese imports via a Truth Social post.
Also Read : Bitcoin Drops 6%, but Ethereum, SAND, and XLM See Gains: Good Time to Buy? ,
Bullish Outlook From Analysts
As per a report from Bloomberg, IG Australia Pty Market Analyst Tony Sycamore noted that the recent bitcoin retreat is a “much-needed pullback to work off overbought readings, rather than a reversal lower or anything sinister. It also provides a reminder that markets, even crypto markets, don’t move in straight lines indefinitely.”
10x Research founder and CEO Markus Thielen voiced that despite these short-term headwinds, they are confident that Bitcoin will surpass the $100,000 milestone within the coming weeks, maintaining a bullish outlook for 2025.
Also, Robert Kiyosaki in his latest tweet has made a prediction that Bitcoin is likely to reach $500,000 based on the AI data which he cited.
FAQs
Bitcoin’s price dropped due to selling pressure, liquidations, and broader market factors like tariff announcements, causing short-term volatility.
No, analysts view it as a healthy correction, not a market crash, with expectations of Bitcoin recovering and surpassing $100,000 soon.
Experts remain bullish, with predictions of Bitcoin reaching $500,000, supported by factors like AI data and continued market adoption