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Latest cryptocurrency news and prices, 09 October 2019

Bitcoins price holds onto the $8,000 support as several altcoins see another day in the green. Here are your latest cryptocurrency news and prices.

Bitcoins price continues to hold onto to the $8,000 support area, while the top 20 cryptocurrencies experienced another day of mixed signals. Here are your latest cryptocurrency news and prices.

Close to 7% of the entire circulating supply of Bitcoin (BTC) is held in the wallets of eight major cryptocurrency exchanges as per data from The Token Analyst, a popular crypto-Twitter commentator.

(Trading at $8,245.32 at 14:00 09 October 2019)

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Bitcoin trading around $8,200 while altcoins see modest gains

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For ethereums critics in the bitcoin community, last month brought a gotcha moment.

Joseph Lubin, co-founder of the second-largest cryptocurrency by market cap, acknowledged onstage at Ethereal Tel Aviv that the network, in its original form, wasnt built for mass adoption. We knew it wasnt going to be scalable for sure, the ConsenSys CEO said.

Predictable cries of scam from ardent bitcoiners followed. But Lubins statement wasnt scandalous in the least to the ethereum fans at Devcon the communitys largest and most influential annual gathering where roughly 3,000 attendees gathered this week in Osaka, Japan.

Even those who knew the first version wasnt scalable dont see early marketing claims as misleading. They see iteration as an inherent process.

Yesterday, there was a strong upward move in ripple price above the $0.2650 resistance against the US Dollar. XRP price even broke the $0.2720 and $0.2750 resistance levels. Moreover, there was a break above the $0.2800 level and the 100 hourly simple moving average. Finally, the price tested the $0.2850 resistance area, where the bears took a stand. A high was formed at $0.2855 and recently the price started a downside correction.

It broke the $0.2800 and $0.2750 support levels. However, the $0.2720 area acted as a decent support. A low was formed near $0.2710 and the price is currently consolidating. It traded above the 50% Fib retracement level of the recent decline from the $0.2855 high to $0.2710 low. However, it seems like the $0.2800 level is now acting as a solid barrier.

(Trading at $0.278890 at 14:00 09 October 2019)

Bitcoin Cash (BCH) proponents have recently been discussing the amount of value participants have been sending onchain. For quite some time now, statistics show the BCH chain has been moving more money than the ETH network in terms of USD value sent per day. With extremely low network fees, a good portion of people are choosing to move funds onchain with the Bitcoin Cash network.

A new complaint accuses the owners and companies behind the Tether cryptocurrency of market manipulation. The accusations claim that Tether is the main culprit for the largest bubble in financial history, with over $265 billion worth of cryptocurrencies disappearing from the market.

A handful of investors filed the complaint in the U.S District Court for the Southern District of New York. According to investors who made the accusations Tether, despite being a stablecoin, successfully manipulated Bitcoins price. Furthermore, Tether organization is also owning the Bitfinex crypto exchange, meaning that the companies behind the exchange can place Bitcoin buy orders with unbacked by fiat Tether tokens.

Tether is supposed to be fully fiat-backed, but Tether owners implied that they could use other forms of assets to support Tethers price. Unbacked buy orders can push trading volumes and pump up Bitcoins price.

Litecoin price recovered above the $55.00 and $56.50 resistance levels. However, LTC price struggled to gain momentum above $58.50 and remained well below the key $60.00 resistance area. The price is currently correcting lower and it may perhaps test the $55.00 support area.

EOS price climbed higher recently and tested the $3.250 resistance area, where sellers appeared. The price is currently correcting lower and is trading below the $3.200 level. If there are more downsides, the price could test the $3.050 support area in the near term.

Cryptocurrency exchange Binance has announced the launch of the eighth phase of its lending product on Oct. 7.

In this phase, Binance will start offering 14-day fixed-term lending products. The subscribers will be accepted on a first-come, first-served basis. The subscription period begins on Oct. 10 and ends on Nov. 10, while interest will be paid immediately after the term matures.

Bitcoin Association announces its title sponsorship of the Cambridge University Metanet Society for the 2019-2020 academic year to support study and development of Bitcoin SV. The Society will use the financial support to conduct events that educate and promote the powerful capabilities of the BSV protocol, blockchain, and cryptocurrency.

Bitcoin Association is the global industry organization for the business of Bitcoin. It supports Bitcoin Satoshi Vision (BSV) as the only cryptocurrency with a blockchain that significantly scales (now), has robust utility (now), and is committed to a set-in-stone protocol for developers to build enterprise-level applications (now). BSV is also the only project that adheres to the original design of Bitcoin creator Satoshi Nakamoto. In short, BSV is Bitcoin.

Stellars Lumen slipped by 0.41% on Tuesday. Partially reversing 7.87% rally on Monday, Stellars Lumen ended the day at $0.062087.

Tracking the broader market, Stellars Lumen rallied to an early morning intraday high $0.064129.

Falling short of the first major resistance level at $0.06480, Stellars Lumen slid to a late intraday low $0.060934.

Stellars Lumen came within range of the first major support level at $0.0593 before finding support.

(Trading at $0.062703 at 14:00 09 October 2019)

For your daily top cryptocurrency news and price updates, be sure to check in daily at 14:00.

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