Bitcoin Falls Below $9000: $10,000–$10,313 Strong Resistance Zone

Written by:
Guest
Published on:
Feb/01/2018

The price of Bitcoin fell below $9,000 for the first time in months shortly before Noon EST.

CoinDesk.com observed:

On a 24-hour basis, bitcoin (BTC) is down 6.16 percent, according to data source CoinMarketCap. Further, the price action in the last 48 hours has established the former support zone of $10,000–$10,313 (50 percent Fibonacci retracement of 2017 low–high) as a strong resistance.

CoinDesk.com was anticipating the price to hit $8,900 in the next 24 hours with price action in the last 48 hours has established $10,000–$10,313 as a strong resistance zone.

The drop comes as the New York Times reports Bitfinex possibly having caused Bitcoin's price to have been propped up in recent months.

The news first reported Tuesday that Bitfinex was subpoenaed by the Commodity Futures Trading Commission, a United States regulatory agency led to a selloff on Wednesday.

- Aaron Goldstein, Gambling911.com

Business/Financial News

How Does a Pay Per Head Work?

A Pay Per Head business is one in which you pay X amount of dollars per customer per week to have another company run nearly every aspect of your bookmaking business.

How Much Profit do Bookies Make?

How Much Profit do Bookies Make?

Bookies are people that accept action on various sports, and most bookies have an average weekly hold percentage of around 5%.

QuadrigaCX Founder Dies With Only Access to Exchange Password: Made Out Will Days Prior

The CEO and founder of Canadian cryptocurrency exchange QuadrigaCX wrote his will just 12 days prior to his death, but he neglected to disclose the crypto exchange password.

6 Fatal Errors That Could Be Costing Online Bookies Serious Profits

6 Fatal Errors That Could Be Costing Online Bookies Serious Profits

Online bookies need to be aware of 6 fetal errors that cause agents to close shop for good. Find out if you’r making these mistakes and if your sportsbook is spilling potential profits everywhere.

Choosing the Best Sports Betting Software Platform

Choosing the Best Sports Betting Software Platform

Recently, the popularity of sports betting in the U.S. and around the world has seen a tremendous boost in popularity. Furthermore, the internet has seen a large increase in new sportsbooks in the past 6 months. 

Syndicate