Latest Cryptocurrency News (October 8, 2019)

Bitcoin’s price has retested the $8,000 support as the altcoins markets flash green today. Crypto analysts believe that BTC could see higher gains in the long term. Here are your latest cryptocurrency news and prices.

Bitcoin, the first decentralized cryptocurrency, exploded onto the scene in 2009.

Latest Bitcoin (BTC) news and prices

At the time of writing, Bitcoin (BT) price is up by 3.18% and trading at $8,198.40 as per data from CoinMarketCap. As is usually the case, the altcoins follow Bitcoin’s lead in terms of price movements, which makes the activity of the digital asset a palpable indication of the current market state as a whole.

Following a massive $1,700 drop back on September 24, bitcoin and the rest of the cryptocurrency market seemed to have pulled back from the overall trend of exuberance found back in June 2019. As per tweets from Big Cheds, a popular crypto-Twitter analyst, the upcoming days are more than likely going to be bearish for the crypto industry in the short term. Big Cheds, however, remains bullish about the long term.

(Trading at $8,199.01 at 14:00 08 October 2019)

Latest Ethereum (ETH) news and prices

After forming a support base near $170, Ethereum started a decent rebound against the US Dollar. As a result, ETH price traded above the $175 and $180 resistance levels. Moreover, there was a close above the $180 level and the 100 hourly simple moving average. The price is currently up around 10% and it even tested the main $185 resistance, where the bears took a stand.

During the rise, there was a break above a key bearish trend line with resistance near $175 on the hourly chart of ETH/USD. The price is currently consolidating gains below the $185 resistance. An immediate support is near the $182 level. Moreover, the 23.6% Fib retracement level of the recent rise from the $167 low to $185 high is also near the $181 level.

(Trading at $180.90 at 14:00 08 October 2019) 

Latest Ripple (XRP) news and prices

XRP/USD pair recorded gains of more than 6% in the last days and continues to trade upward within the ascending channel. The price set resistance at$0.28650 and is now consolidating between that level and $0.27500 support line. It is possible that a stop loss hunt will occur in the short term, with price tapping into liquidity just below $0.27500. Due to the fact that trading volumes are average or just below the average at the moment on an hourly chart, the start of a downtrend is highly unlikely.

(Trading at $0.274883 at 14:00 08 October 2019)

Bitcoin Cash (BCH) news and prices

Bitcoin Cash price action since yesterday has been defiant of the bear pressure. It is as though the bulls are on a mission to sham the prediction that the price will break down to $127.5. The Asian trading session on Tuesday has remained strongly positive with BCH correcting higher 2.19%; from an opening price of $233.17, BCH/USD extended the bullish leg to $239.56 (intraday high) before adjusting to the last price of $238.27.

(Trading at $233.22 at 14:00 08 October 2019) 

Tether (USDT) news and prices

A legal firm, based in New York has filed a lawsuit against Tether and Bitfinex, accusing both companies of crypto market manipulation. 

The class-action suit, filed by David Leibowitz, Benjamin Leibowitz, Jason Leibowitz, Aaron Leibowitz and Pinchas Goldshtein, are represented by Vel Freedman and Kyle Roche accuses the stablecoin firm and its affiliated cryptocurrency exchange of defrauding investors, market manipulation as well as the concealment of illicit funds.

(Trading at $1.01 at 14:00 08 October 2019) 

Litecoin (LTC) news and prices

Litecoin is trading in the green just like the other major cryptocurrencies on the market. The bullish wave that commenced on Monday has been gracious enough to thrust LTC/USD above the descending trendline resistance. A subtle bullish correction of 0.60% on Tuesday (Asian trading session) shows the bulls’ desire to stir action above $60.

Meanwhile, the upside is strongly limited with the 100 simple moving average on the one-hour chart hindering growth at $58.70. This means that the buyers will have to work a little harder to pull LTC above $60 (untested resistance level). In the $60s range, the price will come face to face with resistance from the 50 SMA (marginally below $65).

(Trading at $57.51 at 14:00 08 October 2019) 

EOS news and prices

EOS Bulls are continuously coming out of hibernation following an impressive bullish action on Monday. The gains have extended into Tuesday with the Asian session recording a 0.65% gain in value. EOS opened the session at $3.19 and has touched $3.26 9 intraday high).

At the time of press, the price has adjusted to $3.21 (the prevailing market value). EOS is pushing the bullish action within an ascending channel whose formation began after the plunge to $2.40 on September 24. Besides, the price is above both the 50 simple moving average on the four-hour chart and the 100 SMA.

(Trading at $3.16 at 14:00 08 October 2019)

Binance Coin (BNB) news and prices

One of the world’s leading crypto-exchanges, Binance, has announced the launch of its eighth phase of Binance Lending Products on 9 October 12:00 PM [UTC]. Binance’s lending platform went live on 26 August with just two products, BNB and USDT. The next phase of the strategic lending platform will have a subscription period from 9 October 12:00 PM [UTC] to 10 October 0:00 AM [UTC].

Additionally, the interest calculation period was from the day of the launch to 23 October 12:00 PM [UTC] and interest payout time is immediately after the loan term matures.

(Trading at $15.93 at 14:00 08 October 2019)  

Bitcoin SV (BSV) news and prices

A member of the BSV community has shared some data on his Twitter page about Bitcoin Cash SV surpassing the original cryptocurrency Bitcoin in the number of transactions per day.

The Twitter user @BHoarder1 published a post which shows that specifically on October 6, there were around 10,000 transactions more in the Bitcoin SV network than on the Bitcoin chain.

(Trading at $84.42 at 14:00 08 October 2019) 

Stellar (XLM) news and prices 

Stellar has been outperforming most of the top cryptocurrencies after the recent crash and has set a pretty strong daily uptrend. The recent high of this uptrend at $0.06226 has just been broken and XLM touched $0.06368 briefly.

The bulls have been able to break above both EMAs today as most of the cryptocurrency market has turned green.

However, it’s important to pay attention to this recent move as it hasn’t broken out above $0.06226 too convincingly just yet. If the bulls fail to see significant continuation above that level, the digital asset could start declining again. The nearest support would be at $0.05719.

(Trading at $0.061709 at 14:00 08 October 2019) 


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