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It's Best Time Ever to be a Black Friday Bitcoin Shopper 101
Source: iStock/selimcan

Turns out, there are all sorts of things one can pay for with their crypto, with options increasing each holiday season. Admittedly, we’re still far from being able to buy absolutely all we need/want, but we’re definitely closer than ever.

Thursday, November 28 is Thanksgiving in the United States, and this holiday is followed by one of the largest shopping phenomena, called Black Friday. It’s the first day of the Christmas shopping season, and retailers make numerous special offers to please their customers, who usually make some very good deals on this day. Pretty much anything can be purchased for a lower price – but in fiat.

We were wondering what the Thanksgiving / Black Friday season is offering to those wanting to pay with their hard-earned and/or hard-hodled crypto. “I have decided not to continue running the Bitcoin Black Friday event,” said founder Jon Holmquist in a statement. “After 7 years, and 6 successful events, I have fallen out of love with using bitcoin as a means of consumer payment.” And that marked the end of one of the best-known events in the Cryptoworld, but worry not, as there’s an abundance of other events waiting for your crypto.

Crypto wallets and charts

There are various ways that crypto-wallet-related businesses and apps enable you to do your Thanksgiving / Black Friday shopping. A major crypto wallet-maker, Ledger, has a 30% off sitewide sale, announcing that “it’s Black Friday all week.” The promotion is live from November 25 to December 2, for Nano X, Nano S, Backup Pack and OTG Kit bought through the site. Furthermore, another major wallet, Trezor, also has a special offer of 30% off with a promocode from November 26 to December 3, with free shipping to EU and the U.S.

But if you need different kind of tools, for two more days, TradingView, a web-based charting package and trading social network, offers 40-60% on its Pro, Pro+ and Premium plans.

Through an app into a major shop

This option alone will get you inside many large shops to buy anything they offer. You can use an app, such as SPEDN, a product of a payments startup Flexa and cryptocurrency exchange Gemini, to shop at certain large retailers, such as Bed, Bath & Beyond, Whole Foods, Nordstrom, and Barnes & Noble. You can pay in Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Gemini Dollar (GUSD). You can also go through the U.S.-based crypto payments startup Fold, also known for its Lighting Pizza, to shop at a variety of major retailers. Just like offering additional discounts on the Prime Day, Fold announced “unprecedented” cashback in BTC for Black Friday season, up to 20% satsback on every purchase.

Directly to retailers

There’s actually a number of retailers you can shop at directly using your crypto. You can search among thousands of available items over on the crypto-friendly Overstock.com, all of which are 70% off as a part of their Black Friday sale, in addition to free shipping, according to their website. This Friday will also see a 60% discount on all crypto-themed fashionable items over at Kryptoez, as well as up to 90% discount on Newegg on a variety of different items during their Black Friday sale.

Miners rejoice

Every holiday luckily offers special deals on mining equipment – which is excellent news given their high price. Crypto Courier Mart, for example, is having a special Black Friday event now, offering 30%-50% off on a number of popular products, including Antminer from mining hardware giant Bitmain, which you can pay for in crypto.

Charities

Give crypto. Give education.

This is a motto of Pencils for Promise (PoP), a non-profit organization that builds schools and works on increasing educational opportunities in the developing world. They announced that they now accept donations in crypto – to be precise, in BTC, ETH, BCH, GUSD, Litecoin (LTC), and ZCash (ZCH). The site states that 100% of tax-deductible crypto donations go towards educating children globally. “Pencils of Promise received a significant cryptocurrency donation from the Pineapple Fund in 2017,” said Tanya Ramos, CEO of PoP. “We have experienced the power of cryptocurrency in the social impact space firsthand.”

Bitcoin Tuesday

Speaking of donations, Pencils of Promise partnered with The Giving Block, a team of nonprofit strategists and cryptocurrency investors that helps nonprofits to fundraise crypto. They are the organizers of Bitcoin Tuesday, held on the Tuesday after Thanksgiving, which falls on December 3 this year. Anybody can join and donate to one of many crypto-friendly nonprofits. In an emailed press release, Alex Wilson, co-founder of The Giving Block said that “Giving Tuesday inspires millions around the world to support and give to the causes that matter to them. But, despite the enhanced tax benefits that crypto donations can offer donors, the day has failed to capture the attention of crypto donors in years past.“ Co-founder Pat Duffy added that “Bitcoin Tuesday will introduce a largely traditional audience to Bitcoin and other cryptocurrencies, driving crypto adoption. When nonprofits accept crypto donations, the world sees crypto as the force for good we know it to be.”

CryptoGivingTuesday and BitGive

Crypto can be given any day of the week. These two organizations do not offer one-day/seasonal/Thanksgiving-related events, but should still be mentioned as options for your donation this holiday season. CryptoGivingTuesday will enable you to donate different cryptos to a number of nonprofits and NGOs. BitGive, founded in 2013, takes less than 1% in fees, while providing transparency and accountability, as its GiveTrack project allows the donors to see how the money is being spent in real time, the website claims.

Earning through extensions

Not everything’s about spending/giving. Something’s about earning too. There are options for you to use fiat to shop but earn crypto back. Besides Fold, we’ve reported previously on two extensions that let you earn money: Moon and Lolli. New York-based Moon is a browser extension for Chrome, Brave and Opera, that allows you to pay with Bitcoin, Litecoin, Ether or Bitcoin Cash on certain e-commerce sites, with more sites to come, and earn crypto back upon purchase. Lolli, available via website or browser extension for Chrome and Firefox, enables their users to earn BTC when they shop from Lolli’s partner merchants, such as Bloomingdale’s, Office Depot, Gap, Old Navy, and more. They partnered with a major goods and food delivery service, Postmates, at the end of August and have announced a new partnership to be launched tomorrow.

Crypto sale!

OK, not a sale per se, as crypto is being sold 24/7, but it just so happens that the entire market had a little bit of a tumble two days ago, coinciding with the Thanksgiving week, so you can get some crypto for yourself for a lower price than we’ve gotten used to in the past few months. The last 24 hours are already green for the majority of the market, but as we know, the prices can go up, or they can go further down, really quickly – so this type of a ‘sale’ is a risky business. In either case, top 10 coins by market capitalization are now 11%-26% cheaper than a month ago, but seven of them are 12%-230% pricier than a year ago. As the cliché goes, ‘only time will show’ whether this ‘sale’ was a good time to buy some cryptos.

Sead Fadilpašić , 2019-11-27 19:51:02 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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