Black Friday BTC deals
Literally all the words in top 10 emerging trends on Friday were related to BTC price dip:
It was the deepest daily drop in price since September 24th (-8% vs -14%):
I've spent a few hours reading this Friday's social chats, and this is the sentiment I found for a few words related to the dip:
Quite a positive sentiment here, agree?
Then I looked into social volume chart, for total mentions of the words in "emerging trends"
- 1. Every late fall period is seeing a significant unusual price action. Some are regularly explaining this with cashing out before the Thanksgiving, before the Black Friday, due to Chinese something etc.
- 2. This time volume is not yet that much huge as during November 2018 drop.
Another attempt to explain this dump is connecting it with the Plus Token exit scam - https://bitcoinist.com/bitcoin-breaks-7000-as-whale-dumps-on-huobi/
There is a set of insightful onchain metrics mentioned in our latest Reddit AMA to make a deeper dive in this dip. Previous post by Brian on NVT is a great addition here - https://insights.santiment.net/read/an-introduction-to-nvt-%2526-how-santiment%25E2%2580%2599s-sansheets-has-brought-its-value-as-a-lead-price-indicator-to-new-heights-2043
Explored it in Sangraphs?
Bought the dip?
Thanks for reading!
If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!
Never miss a post from Garry Kabankin!
Get 'early bird' alerts for new insights from this author