Black Friday Sales Come Early for Cryptocurrency Investors: 2 Top Tokens That Just Went on Sale – Motley Fool

Black Friday Sales Come Early for Cryptocurrency Investors: 2 Top Tokens That Just Went on Sale – Motley Fool

For investors looking for deals on top cryptocurrencies, this past week provided what may turn out to be an early Black Friday sale. The majority of large-cap cryptocurrencies have taken a hit of late, outside of specific groups of digital assets, such as those tied to the metaverse, that cryptocurrency investors have latched on to.

Unfortunately, the cryptocurrency world appears to be taking on some of the characteristics of other asset classes. Whether that’s good or bad, macroeconomic factors now play into the valuations of these digital assets, perhaps more than ever.

Various currency-related tokens spread across a screen.

Image source: Getty Images.

This week, one of the key catalysts that drove down valuations across most highly valued asset classes was the renomination of Jerome Powell as Federal Reserve Chairman. While the market appeared to initially view this renomination as positive, it has become clear that investors were pricing in some probability that a more dovish option would be chosen. This sell-off continued into Tuesday and Wednesday, with the Nasdaq and cryptocurrency markets under pressure. 

Now, investors have certainly been rewarded with a “buy the dip” approach to risk assets over the past decade. For those looking to do just that, there
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