How will Black Friday/Cyber Monday affect Bitcoin prices?

[player514]

As you guys might know, Thanksgiving is coming up. But with that comes Black Friday and Cyber Monday. How do you guys think the sales during these two days will affect the Bitcoin price evaluation?

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[Intel 4004]

That's a really good question! In my opinion this year price will raise up at the end of November because of Black Friday. I just checked price for 2015 and 2016 and these are the results.

2015:


2016:



Remember that every day a lot of ecommerces are starting to accept BTC as form of payment

[player514]

That's a really good question! In my opinion this year price will raise up at the end of November because of Black Friday. I just checked price for 2015 and 2016 and these are the results.

2015:


2016:



Remember that every day a lot of ecommerces are starting to accept BTC as form of payment

Wow, thanks for this thorough analysis! I'm surprised by how much the BTC price rose in 2015 during Black Friday while it barely moved during the 2016 time. Perhaps people were more keen on hodling when 2016 came around, especially with the Bitcoin slow rise during the time. I agree with you, especially because of ecommerces being able to accept BTC and some even taking Litecoin.

[player514]

I want to bring this back up to also ask:

Would it be a good idea to buy Bitcoin a few weeks before Black Friday and sell right after? Do you think I could make profit off of this?

[hase0278]

I want to bring this back up to also ask:

Would it be a good idea to buy Bitcoin a few weeks before Black Friday and sell right after? Do you think I could make profit off of this?

I think that you can make gains doing your idea after all, there is a high probability of bitcoin price going up more by the end of November. Even if price doesn't move that much, there will be an upcoming fork which will give you free money that can be considered as a profit too, it might start with a value of hundreds of dollars in it's release like bitcoin cash. You might get more gains if price really did go up but either way you can just hold bitcoin when price have gone down.

[dead_m92]

Wow i didnt knew that black friday had this impact over bitcoin during 2015 and 2016, but we should see how does it reacts now that bitcoin is being more adopted on the big shops.
Amazon was going to accept bitcoin as a form of payment on their shop, if they add it in there, then it would be huge because a lot of people will start to buy using bitcoin, and it means that so many of them will buy bitcoin in order to buy more stuff from that store, it would be huge

[gentlemand]

I wonder many newcomers who've piled in recently realise you can actually spend it.

I'd love to see retail figures regarding BTC. I would expect them to be static at best and more likely to be falling. The relentless rising coupled with high fees makes them less attractive to spend than ever.