What started in America as the beginning of the Christmas shopping season has become a full-blown international affair. Brands around the world have jumped on the bandwagon and offer (often crazy) discounts to shoppers, from the smallest brands to giant corporations. It has even extended to Cyber Monday, another international discount day for online consumers.
As the Black Friday craze sets in, let’s explore what impact this might have on the markets this weekend, and where you can shop with your cryptocurrencies.
How Black Friday Is Predicted To Affect Crypto Markets
Over the years, crypto markets have been known to see an increase in price over the holiday period (from Thanksgiving to New Year). As the frost still lingers from the crypto winter we’ve endured for the past year, there is some hope among industry insiders.
There's no denying that since the demise of FTX, cryptocurrencies have taken a knock. After initially taking a hit, the two biggest cryptocurrencies, Bitcoin and Ethereum, both traded in triangle patterns before breaking out on November 20.
While prices fell further, the bullish sentiment is that the lows have been established and the prices are increasing, as reflected in the charts. While there is still much ground to be covered before returning to pre-FTX prices, there is hope.
While the Bitcoin community at CoinMarketCap estimates that the cryptocurrency will close the month at $20,623, technical analysis does not support this sentiment. According to CoinCodex.com's predictions, Bitcoin will close the month at $16,353. Take from that what you will, only time can tell what the markets might do in the next few days and weeks.
How To Tackle Black Friday With Crypto
Looking to spend some crypto this Black Friday weekend? While crypto adoption is at an impressive high, that doesn’t mean every retailer is willing to accept it. But fear not, there’s a way to get around this.
If you’re part of the 30% of crypto holders that bought something online or part of the 21% of holders that bought something in-store using crypto in the last month, we’ve got even better news.
If the retailer you’re looking to shop at doesn’t accept crypto, you can still make your purchase using your preferred digital currency by buying a gift card for the store using crypto. Select which store you’d like a gift card for, send your preferred cryptocurrency, and the gift card will be instantly sent to your email address. Great for yourself, and great for gifting.
Check out these top options when it comes to the gift of giving:
Select which country you’re in and Coingate will give you a list of gift card options for you to choose from. From Amazon to Netflix to Hotels.com, there’s something for everybody.
Gyft offers a wide range of options, from Starbucks to Walmart to Ulta. Whatever your Black Friday wishlist holds, you’re bound to find a gift card that can help you seamlessly spend your crypto and get the goods you’re after.
Buy a gift card to any of their supported companies, including Macy’s, Adidas, and The Home Depot, using the cryptocurrency of your choice.
How To Make Crypto Payments At Companies That Do Accept Crypto
If you’ve found a retailer that accepts crypto and are ready to cash out - simply complete the transaction using your Oobit app.
- Open the app
- Select Pay (center)
- Choose the In-store option
- Select your crypto, enter the amount and make payment
Remember, Oobit also allows you to quickly and seamlessly split the bill with friends and send crypto to family around the world. Use the app to make instant payments and pay zero fees.
Good Luck Out There
Keep a level head as you make your way through the shopping madness, ideally stick to online. While crypto payments are on the rise, next year promises to be even more crypto-friendly. And who knows where the Bitcoin price might be then…
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