Bitcoin
BTC$18 928.29

-1.09%

Ethereum
ETH$1 294.66

-3.51%

Tether
USDT$1.000070

0%

USD Coin
USDC$1.000014

0.01%

Binance Coin
BNB$274.74

-1.09%

XRP
XRP$0.500514

-0.70%

Analyst nails Bitcoin monthly close 2 months running


01 Oct 2021

#Bitcoin

Bitcoin price action exactly conforms to PlanB’s predictions for a second time, and if history repeats itself, BTC/USD should be at $63,000 by the end of the month. Bitcoin (BTC) was keen to retain $44,000 on Oct. 1 as the monthly close sparked a late show of strength. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it first returned to the $44,000 mark Thursday, then test lower levels before heading even higher.

While still not tackling resistance at $45,000 and higher, Bitcoin did not disappoint with its end-of-month performance, this almost exactly matching predictions from stock-to-flow model creator PlanB for a second month running. With $63,000 now planned for October, expectations were high for Bitcoin to make up for lost ground going into Q4.

“September was bad. October is great. November is great. December is great,” Cointelegraph contributor Michaël van de Poppe summarized, telling Twitter followers to “buy the f*cking dip.” 

Van de Poppe highlighted historical performance across various months each year, something which Cointelegraph previously noted all but consigned September to be a “boring” 30 days. Others, however, were more cautious. In its latest market update, crypto trading firm QCP Capital said that it would remain cautious in its approach to the market as a whole.

“Overall, we struggle to find any directional conviction amidst the macro and market crosswinds. Our strategy going into Q4 is to remain fairly neutral and nimble,” executives summarized.

Macro factors at play were China’s reiteration of its crypto crackdown and two United States issues: legislation and the potential approval of a Bitcoin exchange-traded fund (ETF). On Friday, a vote on the government’s infrastructure bill, originally slated to happen Monday, was again delayed after a shutdown later this month was averted in a separate vote.

Ether returns to $3,000

Altcoins, meanwhile, saw another 24 hours of modest-to-flat moves, again headed by Binance Coin (BNB) on 6% daily gains. All of the top 10 cryptocurrencies by market capitalization were in the green at the time of writing, however, marking a refreshing contrast to recent action. Ether (ETH), the largest altcoin, traded above $3,000 on the back of 3% returns.


Related

The crypto market has taken a hiatus from the sell-off
The crypto market has taken a hiatus from the sell-off
Crypto bears confirmed their strength
Crypto bears confirmed their strength
The crypto market has taken a step up but has not yet fly
The crypto market has taken a step up but has not yet fly
Cryptocurrencies: Main Week of the Calendar
Cryptocurrencies: Main Week of the Calendar
Is Bitcoin heading to $15K? Why are the markets suddenly pulling back?
Is Bitcoin heading to $15K? Why are the markets suddenly pulling back?
Crypto market's fragile stability
Crypto market's fragile stability
Bugatti Sports Car for 1 BTC: a Pipe Dream or Reality?
Bugatti Sports Car for 1 BTC: a Pipe Dream or Reality?
The crypto market tests the strength of buyers
The crypto market tests the strength of buyers
Bitcoin seeks support
Bitcoin seeks support

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 84% 26 $18 928.29 -1.09% -4.04% $362 675 162 554 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 69.6% 54 $1 294.66 -3.51% -5.75% $158 627 858 840 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000070 0% 0% $67 959 464 596 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000014 0.01% -0.01% $49 594 307 856 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 90% 15 $274.74 -1.09% 1.13% $44 325 985 527 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 63.2% 74 $0.500514 -0.70% 26.97% $24 950 009 051 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92.4% 1 $1.000119 0% 0% $20 519 701 371 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 79.2% 32 $0.447321 -2.92% -3.50% $15 312 533 995 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 84.4% 29 $32.55 -3.85% 0.89% $11 545 262 081 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 88.4% 15 $0.061629 -4.48% 3.07% $8 176 334 390 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 78.4% 41 $6.22 -3.37% -7.84% $6 968 389 291 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 93.6% 1 $0.999457 -0.02% -0.02% $6 926 301 960 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 73.6% 55 $0.746252 -3.07% -5.23% $6 518 004 616 MATIC 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.4% 42 $0.000011 -4.47% -2.59% $6 105 472 299 SHIB 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.