- Bitcoin trades quietly at USD 7,200 on Friday
- Holiday spending on e-commerce trumps traditional brick and mortar establishments
- YouTube reinstates crypto-related content, says previous bans were a mistake
Bitcoin price looks to be faltering after enjoying a wonderful Boxing Day rally, although the bulls will not be concerned, since volumes remain as thin as ever in the final week of December. With the weekend looming and only the Americas left to trade on Friday, will Bitcoin break out from its current resistance levels near USD 7,200?
Maybe if Bitcoin traders are as bullish as American consumers! According to SpendingPulse, the report by Mastercard, e-commerce sales have broken all-time records during the holiday season, with online retail growing almost 19% from the same festive period in 2018. In fact, now online sales make up for 14.6% of the total spend of holiday shoppers, including for purchases made with Bitcoin.
Clothing took up the lion’s share, with 17% of the spend on them, but jewelry (8.8%), electronics (10.7%) were also big on shopping lists, with a further 6.9% spent at departmental stores. All in all, 2019 has seen a 3.4% jump in online shopping over the holidays, despite it being one of the shortest one on record, with six days less than last year’s.
MasterCard adviser Steve Sadove, said that retailers saw this coming and adapted to the shortened season:
“Due to a later than usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier in the season, meeting consumers’ demand for the best deals across all channels and devices.”
Crypto accepting merchants, however, had been a little slow to respond to queries about how well they were doing in terms of Bitcoin spend, but eGifter’s VP of Marketing insisted that they had definitely seen an overall growth in crypto sales. The gift card trading service explained:
“We saw more gifting with crypto in 2019, compared to buy-for-self use cases in prior years.”
Much-maligned Bitcoin payment processor BitPay even said things looked up for them, with CMO Bill Zielke saying they saw their daily averages doubling in the days leading up to the holiday.
And of course, everyone will be happy to hear the news from YouTube that confirms the deletions of crypto-related content over the past week have, in fact, been a mistake on the part of the video streaming giant.
We are now seeing more and more such content being re-enabled on the social media platform after days of deletions and silence from YouTube. However, they just announced today on Twitter — via a response to YouTuber and crypto influencer Carl The Moon — some responses in regard to the crypto-related videos that this week had been removed from the platform. Using the handle @TeamYouTube, they said:
“Hey there, this was an error on our side during the review process – your video should be reinstated and strikes resolved. Let us know if you’re seeing otherwise!”
Finally an official response from YouTube! Good news!
However, I’ve learnt a valuable lesson, not to trust or be too dependent on a central authority.
I will try to “decentralize” my audience from now on!
This “mistake” created some serious issues for us YouTubers. https://t.co/Xhcvv6a1UP
— The Moon (@themooncarl) December 26, 2019
Carl himself responded saying: “I can confirm that my warning/strike was removed, and most of the other censored YouTubers have also had their strikes removed.”
Few other confirmations have been received, though suffice to say, YouTube won’t have gained any more popularity votes by a community already feeling let down by the silence from the corporate giant over the holiday season. Carl himself has said that trust in the mega platform has been lost and will be very difficult to regain:
“YouTube has admitted that this was a mistake, but this has severely impacted YouTubers business. However, the biggest thing I have learnt as a Youtuber is to not trust Youtube.”
Might be wise for crypto video lovers to seek out and try one of many alternatives to video streaming.
‘Tis the season for taking, and giving back, right YouTube?
Image Courtesy: Pixabay