Black Friday fever has hit major retailers and shopping centres across the globe today. A boatload of bargain-hunters have flocked to the shops to pick up some heavily-discounted early Christmas presents.
However, Black Friday fever hasn’t confined itself just to retail, cryptocurrencies have also entered a stage of discount this week, with Ethereum down 30% this week while the likes of Litecoin and Stellar Lumens are both down 25%.
Here are five cryptocurrencies with strong fundamentals that could be seen as potential bargains on Black Friday.
Ethereum has been one of the hardest hit during the past week’s aggressive move to the downside. It dropped substantially from the $204 level of support, dropping to as low as $120 before finding a small bounce.
The smart-contract platform reached an impressive all-time high of $1,400 during the last bull-run. While it has potential to go lower, it certainly looks like a solid long-term purchase at this price-point.
The largest market cap cryptocurrency was not immune to this week’s sell-off. Bitcoin fell through the $6,150 level of support, cascading down to $4,000. Interestingly, this price-point is an area with high volatility, so on face-value the price may not seem appealing, but with a little momentum Bitcoin could begin to fly.
Bitcoin’s all-time high peaked at $20,000 in 2017, with traders avidly looking at the charts to see if a new bottom has formed before another bull-run.
XRP has defied the odds by holding onto the $0.41 level of support this week. While the rest of the market has moved south, Ripple continues to show strength by clinging onto support. XRP is still down 13% in the past week, which isn’t the biggest discount on the table but it’s still an impressive price considering the amount of strength it has shown.
Populous is down an astonishing 35% in the past week. The invoice factoring platform has been ramping up their development in Q4 of this year, meeting their road map goals by delivering real invoices on their platform.
PPT is worth just $1.67 at the time of writing, considering the all-time high was $76, there is notable upside potential moving into the New Year.
Digitex Futures (DGTX)
Digitex Futures is one platform that continues to show strength in this gruelling bear market. With the launch of the exchange edging closer, the interest has reached incredible heights with over 500,000 people on the waiting list eagerly anticipating the product.
The DGTX token started trading at just $0.01 after launching in May, going on to achieve a remarkable all-time high of $0.14 in just a matter of months. The price has fallen in correlation with the rest of the market in the past few weeks, at $0.05 it looks like one of the best bargains in the market on Black Friday.
Disclaimer: the author of this article does not own or have a vested interest in any of the cryptocurrencies listed above.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.