Black Friday BTC deals

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garry
Nov 24, 2019

Or isn't?


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%):

September drop tossed up much more volume then the latest one one. Chart: Sanbase

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:

Searching the word "BTC"
Searching "bottom"
Searching "dip"

Quite a positive sentiment here, agree?

Then I looked into social volume chart, for total mentions of the words in "emerging trends"

Thoughts here:

  1. 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. 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?

Assets from this insight

Bitcoin logo

BitcoinBTC

$ 7267.73

0.34%in last 7d