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Latest cryptocurrency news and prices, 01 October 2019
Bitcoin has climbed back above $8,400 as several altcoin markets see green again. Here are your latest cryptocurrency news and prices.
After several days of downward price consolidation, Bitcoins price has climbed back above a key support at $8,400 as several altcoin markets also enjoy a day in the green. Here are your latest cryptocurrency news and prices.
By the end of the day on Monday 30 September Bitcoins price had managed a stellar 8% rally from its low to around $8,325, which was near a 3.5% gain for the day.
Bitcoin closed last week on a bearish note, breaking and closing below its 20-week moving average (WMA) for the first time since an earlier break this year in March. However, this close was notable as it is something that had not happened back in 2016/2017 and thus is commonly seen as a bearish indicator on the weekly chart.
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Bitcoin trading around $8,200 while altcoins see modest gains
(Trading at $8,438.53 at 14:00 01 October 2019)
A system-wide upgrade arrived on ethereums Ropsten test network on Monday. And while Istanbul should ultimately introduce network efficiencies, the testnet launch wont be smooth sailing for everyone.
For governance platform Aragon, in particular, the code changes were expected to break roughly 680 smart contracts, according to Aragon One CTO Jorge Izquierdo. These smart contracts typically manage the governance of decentralized applications (dapps) running on the ethereum blockchain.
After a strong decline, ripple price started consolidating above the $0.2320 level against the US Dollar. The XRP/USD pair traded in a range and recently started a decent upward move above the $0.2400 resistance area. Moreover, the price broke the key $0.2420 resistance area and the 100 hourly simple moving average to start the recent upside correction.
(Trading at $0.257029 at 14:00 01 October 2019)
BCH/USD is on course of charting two straight bullish days. The asset has so far gone up from $226.75 to $233.30 today. The daily price is currently consolidating in a flag formation and bulls are looking to have a positive breakout. The hourly breakdown shows us that BCH/USD fell to $213.85, where it found support and went up to $226.75 to end the day. After a short drop, the bulls have taken full control of the BCH/USD today, bringing the price up to $233.30.
(Trading at $231.42 at 14:00 01 Octoberr 2019)
Litecoin is widely considered the little brother to Bitcoin, and is one of the internets favourite cryptocurrencies, with one of the highest market capitalisations of any coin. This well-established coin is supported by dozens of Litecoin casino websites and Litecoin sportsbooks, supporting everything from traditional table games like roulette and slots, to sports betting.
Tether the controversial stablecoin company linked to Bitfinex has just minted an additional 20 million USDT. Many industry commentators believe that the company is responsible for artificially inflating the price of Bitcoin.
The news comes just one week after a similar mint. Last Tuesday, the firm reportedly added an additional 15 million USDT immediately following Bitcoins sudden crash to below $10,000. BeInCrypto reported on the mint at the time.
The company behind EOS, Block.One has to pay $24 million in penalties for allegedly conducting an unregistered sale of a security as per an announcement from the U.S. Securities and Exchange Commission (SEC).
The SEC, in a press release published yesterday, stated that Block.Oneraised the equivalent of several billion dollarsover the period of a year via an unregistered initial coin offering (ICO). Notably, a grand total of $4.1 billion was raised. Block.One subsequently agreed to settle the charges as per a statement from the SEC.
Binance Coin (BNB) was previously thought by many to be the ultimate investment token, since Binance seemed to be relentlessly pumping out new products that would improve the utility of the token over time.
However, despite starting the year extremely strong, Binance Coin has struggled to maintain momentum in recent months as investor faith waned.
Bitcoin SV has been trading near the eighty-five ($85) dollars mark for quite some time now and while the price kept its consolidation routine, both the bulls and the bears decided that theyll be making moves when a new trend starts to form. If the traders somehow manage to rag the price back to ninety ($90) dollars, then they wont have to worry about the psychological barrier at one hundred dollars ($100) that would have otherwise thwarted their plans towards a successful bull run. A rebound will initiate with the price reaching the ninety ($90) dollars mark.
Contrary to what most people may think, Stellar is a digital asset which effectively has an inflation mechanism. As it is not a traditional cryptocurrency like Bitcoin or Ethereum, having such a mechanism does make a fair bit of sense. It is a project dedicated to streamlining and disrupting traditional finance, an industry where inflation is almost a must to survive in the long term. However, there have been people who genuinely oppose this mechanism in Stellar, and they have been quite vocal about it.
(Trading at $0.061042 at 14:00 01 October 2019)
For your daily top cryptocurrency news and price updates, be sure to check in daily at 14:00.
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