Market review, September 4, 2019

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2019-09-04 15:01:39

FanDuel, the large American betting company, has announced that it will start accepting bitcoins for sports betting through cooperation with the cryptocurrency payment company BitPay.

It is reported that FanDuel users will be able to make deposits in bitcoins using a personal computer or mobile application. Note that this is not the first initiative of the bookmaker related to cryptocurrencies - last year the company launched a football competition, the winners of which received an award in bitcoins.

NFL Football is one of the most popular sporting events to watch and the start of the football season makes it a perfect time to introduce Bitcoin to these fans. We wanted to have the option in place for Bitcoin users to deposit cryptocurrency into their FanDuel accounts and take advantage of the daily fantasy sports games,” Sonny Singh, BitPay’s Chief Commercial Officer, said.

Recently, Filipino boxer and Senator Manny Pacquiao launched his own cryptocurrency, which was also supported by footballer Michael Owen and Sheikh Khalid bin Sultan bin Zayed Al Nahyan.

Technical analysis of Bitcoin (BTC):

Over the past day, bitcoin increased in price, reaching a resistance level of $10,600. Now, the price of bitcoin is $10,450. We expect bitcoin to break through the support level of $10,400. The nearest resistance levels are $10,650, $11,000. The nearest support levels are $10,400, $10,000.

Technical analysis of Ethereum (ETH):

Over the past 24 hours, ethereum grew slightly in price, reaching a resistance level of $181. After a new attempt to overcome the level of $181, the price of ethereum went down. Now, its price is $177. In the future, we expect a decrease in the price of ethereum to the support level of $165. The nearest resistance levels are $181, $185. The nearest support levels are $173, $169, $165.

Technical analysis of Ripple (XRP):

Over the past day, ripple grew in price and tested the resistance level of $0.2625. After a new attempt to overcome this resistance level, its price went down. Now, it is $0.2590. We expect ripple to go down. The nearest resistance levels are $0.2580, $0.2630. The nearest support levels are $0.2590, $2560, $0.2490.

Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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