Bitcoin provides a ‘Black Friday discount’ with a BTC price of less than $55,000 — just like in 2020.

Bitcoin (BTC) may be down 20% from all-time highs, but analysts suggest that this is a good opportunity to “buy the dip.”

This year’s Black Friday is living up to its name in crypto, with Bitcoin and numerous altcoins trading at their lowest levels in six weeks.

Concerns about the $53,000 floor

Following an overnight sell-off triggered by a weakening US dollar and macromarket jitters caused by a new coronavirus type, BTC/USD is trading near $54,000.

While the mainstream media emphasizes the drop, some are unconcerned — present prices, in fact, provide a fantastic entry opportunity.

Others mocked a hastily written Bloomberg piece in which the magazine announced that Bitcoin had “entered a bear market.”

In terms of short-term aims, prominent trader and podcast presenter Scott Melker cautioned against following the herd and anticipating further lower levels to purchase.

“We all appear to want to see 53K, which generally means we get a head start at 53.5K or price nukes straight through and we HFSP,” he tweeted.