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Why Did Bitcoin Price Drop Below $9,000? A Pivotal Weekend Ahead

From cointelegraph.com

Bitcoin price (BTC) fell 5% today to a new weekly low at $8,660, a point which is also below the 200-day moving average which has been acting as support since reclaiming it in the final week of October. Almost all other crypto-assets have also suffered a valuation loss against the U.S. dollar, but there has been some resilience shown in both Ether (ETH) and EOS, which have continued to outperform Bitcoin over the last week. Bitcoin has been trading hard up against historical weekly support and resistance at $9,550. This also coincided with the 100-day moving average (DMA), unable to establish any kind of sustained ... (full story)

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  • Category: Fundamental Analysis