Black Friday is time-honored American tradition, with discounts galore, and the opportunity for massive savings on everything from apparel to smartphones and TVs. But the latest tech gadgets aren't the only thing selling for a discount in 2020.
The price of bitcoin has been around or below $17,000 for nearly the entire day. That's around a 12% discount, and more significantly, it's the biggest pullback that bitcoin has seen in the last month. If you've been scared to miss out on bitcoin, or were waiting for an opportunity to dip buy, now might be your chance.
There's definitely a chance that bitcoin sees at least one more significant downturn in 2021, as we're likely to see the stock market correct at some point, and bitcoin is now somewhat correlated to the overall markets, but it's impossible to know what price bitcoin will be at by then. If bitcoin performs as many expect it to in 2021, this might be the last legitimate chance to purchase any bitcoin at a price below $20,000.
If you're skeptical of bitcoin, as you should be for any investment, here is how some of the traditional investors view bitcoin in 2020:
- Citibank Report Reveals Bitcoin Could Rocket To $300,000 Price By End Of 2021
- 20 Institutional Bitcoin Investors
Even if bitcoin only reaches a price of $30,000 (3-10x less than some expect) per coin in 2021, that would be a 76% return. Which would hurt more in 2021, owning a small amount of bitcoin and seeing it drop by 50%, or not owning any bitcoin and watching it double in price?